NewzNEW YORK (AP) — NEW YORK (AP) — Macy’s Inc. (M) on Thursday reported fiscal second-quarter net income of $169 million. The New York-based company said it had net income of 62 cents per share.
Earnings, adjusted for pretax gains, came to 40 cents per share. The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The department store operator posted revenue of $5.06 billion in the period. Its adjusted revenue was $4.87 billion, which also beat Street forecasts. Four analysts surveyed by Zacks expected $4.82 billion.
Macy’s expects full-year earnings in the range of $2.15 to $2.35 per share, with revenue in the range of $21.68 billion to $21.83 billion. _____ 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 Source
(AP) — The Lovesac Company (LOVE) on Thursday reported earnings of $7.4 million in its fiscal second quarter. On a per-share basis, the Stamford, Connecticut-based company said it had profit of 51 cents. Losses, adjusted for non-recurring gains, came to 35 cents per share.
The company posted revenue of $161.2 million in the period. For the current quarter ending in October, Lovesac said it expects revenue in the range of $140 million to $150 million. The company expects full-year earnings to be 98 cents to $1.26 per share, with revenue ranging from $690 million to $710 million.
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