UPDATE 1-Macy's posts surprise same-store sales growth [Reuters]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: Reuters
UPDATE 1-Macy's posts surprise same-store sales growth | Reuters Reuters Staff 2 Min Read (Compares with estimates, adds details on industry and forecast) Aug 15 (Reuters) - Macy’s Inc on Wednesday reported a surprise rise in quarterly same-store sales, topping estimates for the third straight quarter, boosted by strong performance across its businesses. The company’s stock fell nearly 5 percent in premarket trading. Its shares have surged 66 percent to $41.82 this year and have more than doubled since their November low of $17.40. Sales at Macy’s stores open more than 12 months, including sales in departments licensed to third parties, rose 0.50 percent, compared with the average analyst estimate of a 0.90 percent drop, according to Thomson Reuters I/B/E/S. Department stores have been struggling with falling mall traffic and tough competition from off-price retailers and Amazon.com Inc. In response, Macy’s has closed stores, tightly controlled inventory, built its Backstage discount
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M
Earnings
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M
Sec Filings
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- M's page on the SEC website