Macy's (M) is expected to report adjusted net income of $145.1 million, or 46 cents a share, on sales of $5.5 billion before the market opens on Wednesday, based on a FactSet survey of 16 analysts.
In the same period a year ago, the company posted earnings of 70 cents a share on sales of $5.6 billion. It reported net income of $139 million.
The stock has fallen 10.5% since the company last reported earnings on May. 15.
Quarterly estimates have fallen 1.2 cents a share in the past month.
Macy's is currently trading at a price-to-forward-earnings ratio of 6.5 based on the 12-month estimates of 17 analysts surveyed by FactSet.
In the upcoming quarter analysts are forecasting net income of $31.9 million, or 10 cents a share, on sales of $5.4 billion.
Jim Cramer and the Action Alerts Plus team are watching the Multiline Retail sector. To find out more about what stocks they like in the industry click here now to get more from Action Alerts PLUS.
Introducing TheStreet Courses: Financial titans Jim Cramer and Robert Powell are bringing their market savvy and investing strategies to you. Learn how to create tax-efficient income, avoid top mistakes, reduce risk and more. With our courses, you will have the tools and knowledge needed to achieve your financial goals. Learn more about TheStreet Courses on investing and personal finance here.