Macy’s stock is trading higher by 2%, cooling off after a 7% jump in the pre-market session, following Macy’s Inc (NYSE:M) announcement of improved earnings for the first quarter.
The department store’s earnings that reportedly towered over analysts’ projections were apparently a breath of fresh air to the Macy’s stock which shrunk nearly 27% in 2019 alone. The impressive numbers suggest that the company’s aggressiveness to revamp old stores and push for the adoption of their mobile app by shoppers has eventually bore fruits.
According to expectation, the company’s sales failed to match last ...
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