Macy's Earnings Beat, Revenue Lags
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Wall Street expectationsCNBC
•Business
Business & Economics
Macy's turnaround starts to take shape, but ailing stores weigh on quarterly results
74% Informative
Macy 's beat Wall Street's earnings expectations but fell short on revenue.
The company's so-called " First 50 " locations the stores that Macy 's is devoting more resources to as part of its turnaround plan outperformed the overall company.
In December , activist investor Barington Capital revealed it's taken a stake in Macy 's and wants the company to cut costs and consider monetizing its real estate portfolio.
"Building on our momentum, we continue to elevate the customer experience, deliver operational excellence and make prudent capital investments," Adrian Mitchell , Macy 's chief operating officer and chief financial officer, said in a statement. "We remain committed to generating healthy free cash flow and returning capital to shareholders through share buybacks and predictable quarterly dividends.".