Macy’s share price jump after holiday quarter profit tops expectations.

Macy’s share price. Macy’s shares jump

Key points.
  • Macy’s reported a biggest profit than expected during holiday quarter
  • According to department store said it is planning for choppier year ahead
Macy's share jumped Thursday and the compony commitment is that it is drew holiday shoppers looking for gifts.
Macy’s said it expects fiscal year net sales to fall between 1% and 3% to $23.7 billion to $24.2 billion in 2022. The company said it expects adjusted earnings per share to fall by $3.67 to $4.11.

Compony share increase 10% in the morning……

In an investor call, CEO Jeff Gennette said Macy's expects discretionary spending to remain under pressure as consumers "continue to gravitate towards services and essential goods."

Earning and revenue.

  • Earning per share :$1,71 vs $ 1.57
  • revenue: $8.26 expected vs $8.26billion expected
Fourth-quarter net income fell to $508 million, or $1.83 per share, from $742 million, or $2.44 per share, a year earlier. The company reported adjusted earnings per share of $1.88. Excluding the tax benefit, it earned adjusted earnings per share of $1.71, according to Refinitiv, which beat analyst expectations of $1.57. Revenue was down nearly 5% from $8.67 billion a year earlier.

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