Macy’s has logged fourth-quarter earnings that outpaced analysts’ bets, signaling hopes for the struggling retailer amid its ambitious turnaround efforts.The department store chain announced on Tuesday earnings per share of $2.12 on an adjusted basis, versus Wall Street’s expectations of $1.96 per share. Although revenues dropped 1.46% to $8.34, the figure topped forecasts of $8.32 billion.Macy’s attributed the earnings beat to a solid holiday shopping season. For the three months ended Feb. 1, same-store sales dropped 0.8% on an owned basis and fell 0.7% on an owned-plus-licensed basis. (Investors appeared bullish on signs of improvement at Macy’s when it released …read more
Source:: Yahoo Finance
