Macy's Sails Past Expectations

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Kena Betancur/Getty Images Macy's reported first-quarter results that exceeded Wall Street estimates and raised its full year guidance, sending shares up more than 11% ahead of Wednesday's opening bell. The retailer earned an adjusted $0.42 a share as revenue rose 3.6% versus a year ago to $5.54 billion. "The winning formula for Macy's, Inc. is a healthy brick & mortar business, robust e-commerce and a great mobile experience," Macy's Chairman and CEO Jeff Gennette said in the earnings release.
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