Investing.com - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Macy's Shares Surge 9% Pre-Market on Earnings, Sales Beat

Published 05/16/2018, 08:29 AM
© Reuters. Macy's shares surge 9% pre-market on earnings, sales beat
M
-

Investing.com - U.S. department store Macy’s reported earnings and sales that beat analysts’ expectations on Wednesday.

Macy’s reported earnings per share of $0.42 on revenue of $5.5billion.

Excluding one-time charges, Macy's earned 48 cents a share, 11 cents more than analysts had forecast.

The retailer said same-store sales increased 4.2%, compared to analysts’ expectations for an increase of 1.4%.

Revenues rose about 3.6% to $5.5 billion, also ahead of analysts' expectations.

Macy’s (NYSE:M) shares jumped around 9% to at $32.60 in pre-market trade following the report.

CEO Jeff Gennette said Macy's exceeded expectations "across all three brands — Macy's, Bloomingdale's, and Bluemercury — as well as across all geographic regions and families of business" during the first quarter.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.