Macy’s: A Miracle on 34th Street?

Macy’s was brimming with optimism when it reported results for the end of 2017: It had seen positive sales growth for the first time in three years. Yet, with the shares up 18% so far this year, skepticism abounded. Analysts at Morgan Stanley and Deutsche Bank put out bleak notes warning of declining sales and “limited upside.”

Macy’s has done it again, though, reporting first-quarter earnings that smashed expectations. It posted earnings per share of 48 cents compared with a consensus estimate of 37 compiled by FactSet and... Nguồn: