Macy's: raises FY targets

(CercleFinance.com) - Macy's has announced a sharp increase in its annual targets, now expecting adjusted EPS of between 3.
75 dollars and 3.95 dollars, up 20% from the previous target range, with sales fairly flat - in a range of -1% to +0.5%.

In its first accounting quarter, the department store chain saw its adjusted EPS rise by 85% to 48 cents, largely beating a consensus of just 36 cents, on sales that are up 3.6% at 5.54 billion dollars.

"Our first quarter performance reflects solid execution of our North Star Strategy," said CEO Jeff Gennette, who also underlined "healthy consumer spending and significant improvements in international tourism".


Copyright (c) 2018 CercleFinance.com. All rights reserved.