Macy’s Inc reported second quarter earnings that missed analysts' expectations on Wednesday and revenue that fell short of forecasts.
The firm reported earnings per share of $0.28 on revenue of $5.55B. Analysts polled by expected EPS of $0.46 on revenue of $5.56B. That compared to EPS of $0.7 on revenue of $5.57B in the same period a year earlier. The company had reported EPS of $0.44 on revenue of $5.5B in the previous quarter.
Macy’s Inc shares lost 11.98% to trade at $17.05 in pre-market trade following the report.
Macy’s Inc follows other major Services sector earnings this month
On July 25, Amazon.com reported second quarter EPS of $5.22 on revenue of $63.4B, compared to forecasts of EPS of $5.56 on revenue of $62.52B.
Visa A earnings beat analysts' expectations on July 23, with third quarter EPS of $1.37 on revenue of $5.84B. analysts expected EPS of $1.32 on revenue of $5.7B
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