, but it later fell 1% midday after the company warned it could see impact from the escalating trade war between the U.S. and China. Macy's reported earnings per share of 44 cents on revenue of $5.504 billion. Wall Street was expecting earnings per share of 33 cents on revenue of $5.505 billion, according to Refinitiv. Same-store sales, a key metric for retailers, also surpassed analyst expectations.
— Salvatore Ferragamo surged 8% after the Italian luxury fashion company reported strong first-quarter sales. The company announced a 17.7% increase in revenues from retail channels in China. The company also reported net profit of 11 million euros.
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