Macy’s (NYSE: M) reported second-quarter financial results before the opening bell on Wednesday. The department store chain reported a 36% decrease in Q2 revenues to $3.56 billion, beating Wall Street consensus. Adjusted loss per share of $0.81 per share was also narrower than what analysts had anticipated.
M shares rose 5% immediately following the announcement. The stock has declined 58% so far this year.
“We are encouraged by our second-quarter performance; however, we continue to approach the back half of the year conservatively. Our immediate priority is successfully executing Holiday 2020,” CEO Jeff Gennette said in a statement.
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2020, reflecting a marked increase in merchandise sales. The results also topped analysts’
The disruption caused by coronavirus has affected almost all sectors except business service providers like Cintas Corporation (NASDAQ: CTAS), which is busy helping clients maintain hygiene and safety during the
Rite Aid Corporation (NYSE: RAD) reported a narrower loss in the second quarter of 2021. Net loss shrank to $0.25 per share in the recently ended quarter from $1.49 per