Macy's Inc (M) said after close Thursday that it earned $1.08 per share in quarter one 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $5.3 billion, beating estimates by $18 million.
In the same quarter a year ago, the company earned $0.39 per share on revenue of $4.7 billion.
The stock is up 2.31% to $23.41 after the report.
Macy's Inc's earnings expanded faster than revenues, signaling widening profit margins.
Wall Street Analysts had an average rating of Hold on the stock prior to the report.
Trading in the five days leading up to the report earned Macy's Inc a Bullish Sentiment Rank from InvestorsObserver.
Macy's Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 75, putting Macy's Inc in the top 25% of stocks. The firm set a 52-week high on November 18, 2021 at $37.95 and set a 52-week low on July 19, 2021 at $15.68.
Founded in 1858 and based in New York City, Macy's operates 570 stores under the Macy's nameplate, 58 stores under the Bloomingdale's nameplate, and 160 freestanding Bluemercury specialty beauty stores (as of the end of fiscal-year 2021). Macy's also operates e-commerce sites and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances comprised 59% of Macy's 2021 sales.
