Macy's, Inc. revised earnings guidance for the fourth quarter and full-year of 2015. Given this timing change in accounting for the transaction, the company's management has revised its earnings guidance for the fourth quarter and full-year 2015, which previously has assumed the entire gain would be booked in the fourth quarter of 2015. Earnings per diluted share for the full-year 2015 now are expected in the range of $3.54 to $3.59, excluding expenses related to cost efficiencies announced earlier in January and asset impairment charges associated primarily with spring 2016 store closings. This compares with previous guidance in the range of $3.85 to $3.90.

The company announced updated annual guidance calculates to guidance for fourth quarter earnings of $1.85 to $1.90 per diluted share, excluding charges associated with cost efficiencies and store closings. This compares with previous guidance for earnings per diluted share of $2.18 to $2.23 in the fourth quarter.