Macy’s blows past expectations and raises guidance
|05/16/2018||Posted by BusinessMediaguide.Com under General World News||
- Macy’s beat on both the top and bottom lines.
- The retailer raised its fiscal 2018 adjusted earnings-per-share guidance.
- Share gained as much as 12% ahead of Wednesday’s opening bell.
- Watch Macy’s trade in real time here.
Macy’s reported first-quarter results that exceeded Wall Street estimates and raised its full year guidance, sending shares up as much as 12% ahead of Wednesday’s opening bell.
The retailer earned an adjusted $0.42 a share as revenue rose 3.6% versus a year ago to $5.54 billion. Those figures easily beat the $0.35 and $5.43 billion that Wall Street analysts surveyed by Bloomberg were expecting. Additionally, owned read more >>>