Macy’s Stock Leaps On Q4 Earnings Beat, Dividend, Buyback Boost


Macy’s  (M) – Get Macy’s Inc Report posted stronger-than-expected fourth quarter earnings Tuesday, while boosting its dividend and share buyback plans, as the department store bellwether continues its spectacular turnaround under CEO Jeff Gennette. 

Macy’s said adjusted earnings for the three months ending in January, the group’s fiscal fourth quarter, came in at $2.45 per share, up more than 200% from the same period last year and well ahead of the Street consensus forecast of $2.00 per share. Group net sales, Macy’s said rose 27.8% to $8.67 billion, again topping analysts’ estimates of a $8.47 billion tally.

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