Macy’s: Fiscal 4Q Earnings Snapshot
Posted February 25, 2020 7:02 am.
This article is more than 5 years old.
CINCINNATI (AP) _ Macy’s Inc. (M) on Tuesday reported fiscal fourth-quarter earnings of $340 million.
The Cincinnati-based company said it had profit of $1.09 per share. Earnings, adjusted for one-time gains and costs, were $2.12 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.
The department store operator posted revenue of $8.34 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $8.32 billion.
Macy’s expects full-year earnings in the range of $2.45 to $2.65 per share, with revenue in the range of $23.6 billion to $23.9 billion.
Macy’s shares have decreased 9% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has declined 36% in the last 12 months.
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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
The Associated Press
