Macy’s Inc (NYSE: M) stock fell 12% on August 15^th, 2015 (as of 10:42 AM GMT-4; Source: Google finance) as the retail firm had reported 1.1 percent fall in the adjusted revenue growth of 35.9 percent to $5.57 billion in the second quarter of FY 18, missing the analysts’ estimates for revenue of $5.62 billion. On an owned plus licensed basis, the comparable sales were up 0.5 percent for the second quarter of 2018. Overall, the net income attributable to Macy’s, Inc. shareholders for the second quarter of 2018 has totaled $166 million, compared to $111 million for the second quarter of 2017

Moreover, for the second quarter 2018, the operating income has totaled $303 million, or 5.4 percent of sales, compared to $282 million, or 5.0 percent of sales, for the second quarter of 2017. Excluding impairment and other costs of $17 million, operating income for the second quarter of 2018 totaled $320 million, or 5.7 percent of sales. There were no impairment and other costs in the second quarter of 2017.

M has updated its guidance for FY18. The company now expects adjusted earnings per diluted share to be in the range of $3.95 to $4.15 in fiscal 2018, excluding expected settlement charges related to the company’s defined benefit plans as well as impairment and other costs. The total sales are expected to range from flat to a 0.7 percent increase in fiscal 2018. Comparable sales on an owned plus licensed basis are expected to increase between 2.0 and 2.5 percent for the second half of 2018, which translates to an annual increase of between 2.1 and 2.5 percent. Comparable sales on an owned basis are expected to be 20-30 basis points below comparable sales on an owned plus licensed basis in fiscal 2018, which is consistent with prior guidance.

Additionally, M has repurchased approximately $344 million face value of senior notes and debentures in the second quarter of 2018. The debt repurchases were made in the open market for a total cost of approximately $354 million, that includes premium expenses and other fees related to the transactions. In the first half of 2018, the company’s asset sales totaled $88 million in cash proceeds, compared with $150 million in the first half of 2017.