Macy’s beats earnings and sales estimates
February 26, 2019
Shares in Macy’s rose 1.5 percent in premarket trading after the department store operator posted adjusted earnings per share in the fourth quarter that were 20 cents higher than analysts expected. The retailer’s sales, which fell below last year’s levels for the same period, also exceeded the Wall Street consensus. Macy’s announced plans to restructure its corporate management, but did not provide specific details.
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