Cincinnati-based retail giant Macy’s Inc.’s earnings exceeded analyst estimates for the second quarter of 2017 despite sales falling for the 10th straight quarter, the company announced Aug. 10.
Macy’s (NYSE: M) reported earnings of 48 cents per share, beating the average analyst estimate of 46 cents. Sales for the quarter totaled $5.5 billion, down 5.4 percent from the same quarter of 2016.
The company attributes the decline in sales to the closing of 68 store locations completed earlier this…
Houston Biz Journal
Macy's earnings beat analyst estimates; sales fall for 10th straight quarter