(NYSE:M) Stocks Falls 6% after Reporting Earnings

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Macy's, Inc. (NYSE:M) decreases 6.02% to $18.26 after the company announced that for fourth quarter of 2009, it expects same store sales to be down 1% to 2%, which calculates to down 2.1% to 2.6% in the second half of 2009. This is better than previous guidance for second half same-store sales to be down 5% to 6%. At the level of current guidance for the fourth quarter, fiscal 2009 same-store sales are expected to be down between 5.4% and 5.7% better than the Company's original guidance, provided at the beginning of the year, for fiscal 2009 same-store sales to be down between 6% and 8%. Macy's, Inc. is assuming fourth quarter of 2009 earnings per share (EPS) on a diluted basis will be $1.00 to $1.05 per share, excluding restructuring-related costs. At the level of current guidance for the fourth quarter, fiscal 2009 diluted EPS will be $1.01 to $1.06, excluding restructuring-related costs. This is an increase from previous guidance for $0.70 to $0.80 per share on the same basis. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.17 for fourth quarter of 2009; EPS of $1.15 for fiscal 2009.

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