Headlines

Macy’s Tops Earnings Expectations

Recent initiatives credited for the improvement

Published

7 years ago

February 27, 2018

kmpeyton

Macy’s (Cincinnati) topped analysts’ expectations this morning, reporting higher earnings and same-store sales than expected. News of the better-than-expected performance caused the company’s stock to rise 10 percent in premarket trading.

Its earnings per share were $2.82, adjusted, compared to the $2.71 expected; its revenue was $8.67 billion, compared to analysts’ expected $8.68 billion; and same-store sales rose 1.3 percent, 0.1-percentage point higher than predicted.

The performance is a sign that its loyalty program, reduction of flash sales and selling off some of its real estate is paying off for the department store chain, according to CNBC.

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