Macy's, Inc. (M)
by Zacks Equity ResearchMay 17, 2012 | Comments : 0 Recommended this article: (0)
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The quarterly earnings of $0.43 per share beat the Zacks Consensus Estimate of $0.40, and rose 43.3% from the prior-year quarter. Macy's continues to expect fiscal 2012 earnings between $3.25 and $3.30 per share.
The company hinted that it is seeking to expand both the Macy's and Bloomingdale's brands, which present enormous opportunities to enhance market share. Macy's, which saw a 1.2% increase in April comparable-store sales, now expects comps growth of approximately 3.7% for fiscal 2012.
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