Macy's shares jump after holiday-quarter profit tops expectations
Publishing timestamp: 2023-03-02 16:15:40
Summary
Macy's reported better than expected profits during the holiday quarter and their shares jumped 11%. They are expecting a choppier year ahead and are focusing on refreshing their private brands, opening more off-mall stores, and growing their luxury business and online marketplace. Their net sales are expected to decline in the range of 1-3% in the fiscal year compared to 2022, and their adjusted diluted earnings per share will range from $3.67 to $4.11. Their shares are up 10% this year.
Sentiment: POSITIVE
Tickers: M,
Keywords: macy's inc, breaking news: business, business news, retail industry, earnings, business, breaking news: earnings,
Source: https://www.cnbc.com/2023/03/02/macys-m-earnings-q4-2022.html