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Stock impact report

Macy's Beats Forecasts But CEO Warns Economy Is Now E-Shaped [Yahoo! Finance]

Macy's Inc (M) 
Last macy's inc earnings: 2/25 06:55 am Check Earnings Report
US:NYSE Investor Relations: macysinc.com/ir
Company Research Source: Yahoo! Finance
Santiago/Getty Images) Getty Images Macy's shares have risen around 6% this week after the department store operator issued a stronger-than-expected first-quarter outlook, signaling that an American bellwether is entering its new fiscal year with some momentum. The company guided for first-quarter net sales of up to $4.63 billion, with comparable sales projected to rise by as much as 1.5%. Both figures topped estimates and for Macy's Chief Executive Tony Spring the numbers tell a story that goes well beyond the quarterly scorecard and he reached for a new piece of economic shorthand. "The K or E economy is real," Spring said, referencing the concept of the K-shaped economy to describe an increasingly divided consumer base whereby wealthier households spend freely, lower-income households pull back. In that model, the two groups diverge like the two arms of the letter K. But Spring evoked the newer concept of an E-shaped economy, recently cited by Heather Long, chief econom Show less Read more
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