Investing.com - Retail giant Macy's (N:M) reported stronger than expected fourth quarter earnings on Tuesday, sending shares higher in premarket trade
Earnings per share came in at $2.09 in the fourth quarter, beating analysts’ expectations of $1.88 per share.
The company’s fourth quarter revenue totaled $8.87 billion, ahead of forecasts for revenue of $8.83 billion.
Sales of coats, boots, sweaters and other seasonal goods were boosted by colder weather in January.
Shares of Macy's rallied 5.58% in pre-market trade to $43.35 following the announcement.