NEW YORK (AP) — NEW YORK (AP) — Macy’s Inc. (M) on Thursday reported fiscal fourth-quarter earnings of $342 million.
On a per-share basis, the New York-based company said it had net income of $1.21. Earnings, adjusted for one-time gains and costs, were $1.80 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The department store operator posted revenue of $7.77 billion in the period, meeting Street forecasts.
Macy’s expects full-year earnings in the range of $2.05 to $2.25 per share, with revenue in the range of $21 billion to $21.4 billion.
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