Retailer Macy’s reported strong results for the final quarter of 2017, thanks to the strong holiday sales. Macy’s shares surged 10% in the pre-market session. Profit more-than-doubled to $1.33 billion or $4.31 per share, compared to $475 million or $1.54 per share in the fourth quarter of 2016. On an adjusted basis, earnings soared 40% to $2.82 per share.
Sales grew 1.8% year-over-year to $8.67 billion. Comp sales for owned stores were up 1.3%, while comp sales for owned and licensed stores were up 1.4%.
Outlook
For 2018, Macy’s estimates total sales are expected to be down between 0.5% and 2%. Comp sales from owned stores, and owned-plus-licensed stores are expected to be flat to up 1%. Adjusted EPS is targeted in the range of $3.55 and $3.75.
Most Popular
AbbVie Q1 2025 adjusted earnings increase on 8% revenue growth; beat estimates
Biopharmaceutical company AbbVie, Inc. (NYSE: ABBV) announced first-quarter 2025 financial results, reporting an increase in revenue and adjusted earnings. The company reported worldwide net revenues of $13.3 billion for the
Colgate-Palmolive (CL) Q1 2025 Earnings: Key financials and quarterly highlights
Colgate-Palmolive Company (NYSE: CL) reported its first quarter 2025 earnings results today. Net sales decreased 3.1% year-over-year to $4.9 billion. Organic sales growth was 1.4%. Net income attributable to Colgate-Palmolive Company rose
Meta Platforms (META) set to report Q1 earnings. Here’s what to expect
After integrating artificial intelligence into its products, Meta Platforms, Inc. (NASDAQ: META) is investing heavily in the metaverse project. Yet, the tech giant has maintained healthy cash flows and consistently
