Macy's Inc. Q1 Profit Increases, beats estimates

Macy's Inc. (M) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $286 million, or $0.98 per share. This compares with $103 million, or $0.32 per share, in last year's first quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $315 million or $1.08 per share for the period.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.6% to $5.35 billion from $4.71 billion last year.

Macy's Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $286 Mln. vs. $103 Mln. last year.
-EPS (Q1): $0.98 vs. $0.32 last year.
-Analyst Estimate: $0.82
-Revenue (Q1): $5.35 Bln vs. $4.71 Bln last year.

Full year EPS guidance: $4.53 - $4.95

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