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Macy’s same-store sales top expectations (M)

May 15, 2019

Macy’s on Wednesday reported first-quarter results that topped Wall Street estimates, sending shares up 2.5% ahead of the opening bell.

The retailer earned an adjusted $0.44 a share on revenue of $5.7 billion, beating the $0.32 and $5.5 billion that analysts surveyed by Bloomberg were expecting. It’s owned plus licensed comps of up 0.7% outpaced the up 0.3% that was anticipated. Macy’s said its digital business saw “double-digit growth,” but did not give a number.

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