NEW YORK (AP) — NEW YORK (AP) — Macy's Inc. (M) on Thursday reported fiscal third-quarter earnings of $43 million.
The New York-based company said it had net income of 15 cents per share. Earnings, adjusted for one-time gains and costs, were 21 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The department store operator posted revenue of $4.86 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $4.77 billion.
Macy's expects full-year earnings in the range of $2.88 to $3.13 per share, with revenue in the range of $22.9 billion to $23.2 billion.
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