Plus   Neg

Macy's Inc. Q4 adjusted earnings Beat Estimates

Macy's Inc. (M) reported earnings for fourth quarter that dropped from the same period last year.

The company's profit came in at $160 million, or $0.50 per share. This compares with $340 million, or $1.09 per share, in last year's fourth quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $253 million or $0.80 per share for the period.

Analysts had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.7% to $6.78 billion from $8.34 billion last year.

Macy's Inc. earnings at a glance:

-Earnings (Q4): $253 Mln. vs. $661 Mln. last year.
-EPS (Q4): $0.80 vs. $2.12 last year.
-Analysts Estimate: $0.12
-Revenue (Q4): $6.78 Bln vs. $8.34 Bln last year.

For comments and feedback contact: editorial@rttnews.com

Follow RTT