Macy’s Earnings: Here’s Why Shares are Up Now
Macy’s, Inc. (NYSE:M) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.23%.
Macy’s, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20.59% to $2.05 in the quarter versus EPS of $1.70 in the year-earlier quarter.
Revenue: Rose 7.18% to $9.35 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Macy’s, Inc. reported adjusted EPS income of $2.05 per share. By that measure, the company beat the mean analyst estimate of $1.99. It beat the average revenue estimate of $9.3 billion.
Quoting Management: “2012 was another great year in our company’s evolving story of growth. The numbers reflect our success in pursuing the right strategies, and executing them with conviction in every part of the business with a talented team we consider to be the best in retailing,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s, Inc.
Key Stats (on next page)…