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Stock Alert: Macy's Up On Better-than-Expected Results

Macy's, Inc. (M) shares are rising as its first-quarter results beat the Street estimates, and its reopened stores were performing better than expected. For the first quarter, the company reported loss of $652 million or $2.10 per share compared to profit of $136 million or $0.44 per share last year.

On an adjusted basis, loss was $2.03 per share. On average, 13 analysts polled by Thomson Reuters expect the company to report a loss per share of $2.33, for the quarter.
Analysts' estimates typically exclude special items.

The premier omnichannel fashion retailer reported first-quarter net sales of $3.017 billion, down from $$5.504 billion a year ago.

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