Macy’s 4Q Profit Up 11 Pct; Misses Forecasts
Macy’s is reporting an 11 percent increase in fourth-quarter profit, but its results missed Wall Street expectations as a string of winter storms chilled sales in January. The department store chain, which operates Macy’s and Bloomingdale’s, says that it earned $811 million, or $2.16 per share, in the three months that ended Feb. That compares with $730 million, or $1.83 per share, a year earlier. Revenue slipped 1.6 percent to $9.2 billion.
“Macy’s 4Q Profit Up 11 Pct; Misses Forecasts” is categorized as “business”. This video was licensed from Grab Networks. For additional video content, click the “video” tab at the top of this page.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.