Investing.com - Macy’s Inc reported fourth quarter earnings that beat analysts' expectations on Tuesday and revenue that topped forecasts.
The firm reported earnings per share of $2.73 on revenue of $8.46B. Analysts polled by Investing.com forecast EPS of $2.53 on revenue of $8.44B. That compared to EPS of $2.82 on revenue of $8.67B in the same period a year earlier. The company had reported EPS of $0.27 on revenue of $5.4B in the previous quarter.
Macy’s Inc shares gained 3.28% to trade at $25.16 in pre-market trade following the report.
For the year, Macy’s Inc shares are down 18.2%, under-performing the S&P 500 which is up 12.88% year to date.
Macy’s Inc follows other major Services sector earnings this month
On Thursday, January 31, 2019, Amazon.com reported fourth quarter EPS of $6.04 on revenue of $72.38B, compared to forecasts of EPS of $5.65 on revenue of $71.88B.
Alibaba earnings beat analyst's expectations on Wednesday, January 30, 2019, with third quarter EPS of $12.19 on revenue of $117.28B. Investing.com analysts expected EPS of $11.45 on revenue of $119.03B
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