Macy's heads into the holiday season like a boss
CINCINNATI (AP) — Macy’s heads into the crucial holiday season firing on all cylinders, logging its fourth consecutive quarter of sales growth at existing locations and getting strong reactions from customers both online and in its stores.
The company upped its annual earnings expectations Wednesday from between $3.95 and $4.15 per share, to between $4.10 and $4.30.
Macy’s Inc. had third-quarter profits of $62 million, or 20 cents per share. Per-share earnings adjusted for one-time gains and losses were 27 cents, or 13 cents better than industry analyst expected, according to a survey by Zacks Investment Research.
The Cincinnati store is reporting revenue of $5.4 billion, also beating expectations.
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