Late Christmas shoppers helped boost Macy’s 4Q results
February 25, 2020
Macy’s same-store sales fell 0.5 percent in the fourth quarter, but the department store operator posted earnings of $2.12 per share versus the $1.96 expected by Wall Street as it was aided by a “meaningful sales uptick” in the 10 days heading into Christmas. The retailer’s share price increased by about three percent in premarket trading on the news.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.