News Formal

Macy's shares jump after earnings blow past estimates

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 6 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Macy's shares surge premarket after earnings blow past estimates

Macy's Inc. M, +1.02% shares jumped 6.6% in Wednesday premarket trading after the department store retailer reported first-quarter profit that blew past estimates. Net income totaled $136 million, or 44 cents per share, down from $139 million, or 45 cents per share last year. The FactSet consensus was for 33 cents. Sales totaled $5.50 billion, down slightly from $5.54 billion last year and just below the $5.53 billion FactSet guidance. Same-store sales on an owned basis rose 0.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Berkshire takes $377 million charge tied to solar company that U.S. linked to fraudWarren Buffett's Berkshire Hathaway Inc on Wednesday said a $377 million ch...
Source: Reuters - 🏆 2. / 97 Read more »

The top 5 must-reads for business leaders, according to a handful of America's most effective CEOsThe top 5 must-reads for business leaders, according to America's most effective CEOs (via Inc) Inc rahimi_haseeb
Source: BusinessInsider - 🏆 729. / 51 Read more »