Macy's +3% after earnings beat, restructuring actions

|About: Altria Group, Inc. (MO)|By:, SA News Editor

Macy's (NYSE:M) reports a Q4 owned plus licensed comparable sales mark of +0.7%, slightly behind the consensus estimate of +0.9%. Total sales were down 2.4%, but ahead of expectations.

Gross margin was 37.5% of sales during the quarter vs. 38.6% a year ago.

Looking ahead, Macy's expects flat sales growth for the full year and EPS of $3.05 to $3.25 vs. $3.27 consensus. The company is targeting $100M in annual cost savings through restructuring actions.

Shares of Macy's are 2.79% in premarket trading to $25.05.

Previously: Macy's beats by $0.20, beats on revenue (Feb. 26)

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This was corrected on 02/26/2019 at 08:37 AM. corrected symbol