FILE- In this Oct. 25, 2017, file photo, people walk into an entrance to Macy's department store at Garden State Plaza in Paramus, N.J. Macy's Inc. reports financial results on Tuesday, Feb. 27, 2018. (AP Photo/Julio Cortez, File)

Macy's tops 4Q expectations, optimistic outlook

February 27, 2018 - 8:28 am

CINCINNATI (AP) — Macy's is reporting very strong fourth-quarter earnings of $1.33 billion and issuing a strong outlook.

The Cincinnati company's profit was $4.31 per share. Earnings, adjusted for pretax gains, were $2.82 per share, easily beating Wall Street per-share expectations of $2.69, according to Zacks Investment Research.

Revenue of $8.67 billion was just short.

Macy's expects full-year earnings in the range of $3.55 to $3.75 per share.

Shares of Macy's Inc. soared 10 percent before the opening bell Tuesday.


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