Macy’s Inc. (M) posted $160 million in fiscal fourth-quarter earnings on Tuesday.
The New York based business said it had net income of 50 cents on a per-share basis. Earnings came to 80 cents per share, adjusted for one-time gains and costs.
Wall Street standards were exceeded by the performance. Of the seven analysts surveyed by Zacks Investment Research, the average estimate was 19 cents per share for earnings.
In the time, the department store operator reported revenue of $6.78 billion, even beating the forecasts for Street. $6.5 billion was forecast by four analysts surveyed by Zacks.
Macy’s expects 40 cents to 90 cents per share of full-year earnings, with sales ranging from $19.75 billion to $20.75 billion.
Since the beginning of the year, Macy’s shares have increased 36 percent, while the Standard & Poor’s 500 index has increased 3 percent . In the last 12 months, the stock has decreased 8 percent.