Macy’s surged 11% in morning trading

Tiger Newspress2021-11-18

Macy’s surged 11% in morning trading after the retailer reported better-than-expected quarterly sales and profit, and raised its full-year outlook.

Macy’s earned an adjusted $1.23 per share for the quarter, well above the 31-cent consensus estimate, and the raised forecast is easing concern about holiday season inventory shortages.

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