Macy's: Fiscal Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Macy's Inc. (M) on Wednesday reported fiscal first-quarter net income of $38 million.
The New York-based company said it had profit of 13 cents per share. Earnings, adjusted for one-time gains and costs, came to 16 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The department store operator posted revenue of $4.79 billion in the period. Its adjusted revenue was $4.6 billion, which also topped Street forecasts. Five analysts surveyed by Zacks expected $4.46 billion.
Macy's expects full-year earnings in the range of $1.60 to $2 per share, with revenue in the range of $21 billion to $21.4 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on M at https://www.zacks.com/ap/M
