Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 2, 2018

Article Excerpt

MACY’S INC., $30.41, New York symbol M, operates 700 Macy’s and Bloomingdale’s department stores. It also has 160 speciality stores and sells goods online. The stock jumped 14% this week after the company reported better-than-expected earnings for its latest quarter. If you exclude costs related to its plan to close unprofitable stores and other unusual items, Macy’s earnings jumped to $2.82 a share for its fourth quarter ended February 3, 2018. That’s a 39.6% rise from $2.02 a year earlier. It also beat the consensus estimate of $2.71. In the quarter, overall sales improved 1.8%, to $8.67 billion from $8.52 billion. Even so, that just missed the consensus forecast of $8.68 billion. Same-store sales rose 1.3%, which was far better than the consensus forecast for a 0.1% gain. The company aims to spur its future sales with several initiatives. For example, it’s testing a new system that lets shoppers scan and pay for their items using their mobile phones. Before they leave the store, a..

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