Macy's Beats Wall Street Estimates (M)

Macy's M reported a first-quarter profit of $23 million or $0.05 per share compared to a loss of $88 million or $0.21 per share. Wall Street analysts' had estimated Macy's (M) would report EPS of $0.04. Net sales at the retailer were $5.574 billion from $5.199 billion in the year ago quarter. Analysts had anticipated revenue of $5.54 billion. During today's trading session, Macy's (M) has gained 1.46% to $24.22.