Macys Posts Surprise Same-store Sales Growth


– Macy’s Inc (M.N) on Wednesday reported a surprise rise in quarterly same-store sales, topping estimates for the third straight quarter, boosted by strong performance across its businesses.

The company’s stock fell nearly 5 percent in premarket trading. Its shares have surged 66 percent to $41.82 this year and have more than doubled since their November low of $17.40.

Sales at Macy’s stores open more than 12 months, including sales in departments licensed to third parties, rose 0.50 percent, compared with the average analyst estimate of a 0.90 percent drop, according to Thomson Reuters I/B/E/S.

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