NEW YORK (AP) — NEW YORK (AP) — Macy's Inc. (M) on Tuesday reported a loss of $71 million in its fiscal fourth quarter.
On a per-share basis, the New York-based company said it had a loss of 26 cents. Earnings, adjusted for one-time gains and costs, came to $2.45 per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.
The department store operator posted revenue of $8.12 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $8.09 billion.
Macy's expects full-year earnings in the range of $2.45 to $2.85 per share, with revenue in the range of $22.2 billion to $22.9 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on M at https://www.zacks.com/ap/M