Macy's M reported a rise in its fiscal second-quarter profit.
Macy's quarterly profit surged to $281 million, or $0.72 per share, versus $279 million, or $0.67 per share, in the year-ago period. However, analysts were expecting a profit of $0.78 per share.
Its sales declined 0.8% to $6.07 billion, while comparable sales fell 0.8%.
Macy's lowered its profit forecast to $3.80 to $3.90 per share, versus its earlier outlook of as much as $3.95 per share. Analysts expected earnings of $3.95 per share for the year.
Macy's shares fell 3.75% to $46.68 in pre-market trading.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in