NEW YORK (AP) — NEW YORK (AP) — Macy's Inc. (M) on Wednesday reported fiscal third-quarter net income of $28 million.
The New York-based company said it had profit of 10 cents per share. Earnings, adjusted for one-time gains and costs, were 4 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The department store operator posted revenue of $4.9 billion in the period. Its adjusted revenue was $4.74 billion, which beat Street forecasts. Five analysts surveyed by Zacks expected $4.73 billion.
Macy's expects full-year earnings in the range of $2.25 to $2.50 per share, with revenue in the range of $22.3 billion to $22.5 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on M at https://www.zacks.com/ap/M
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