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Macy's digital transformation continues to fuel profit

By The Associated Press
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CINCINNATI (AP) — Macy's is putting up its sixth consecutive quarter of rising comparable store sales thanks in part to another doubling of online sales.

The Cincinnati department store on Wednesday reported a first quarter profit of $136 million, or 44 cents per share. That far exceeds Wall Street's per-share expectations of 31 cents, according to a survey by Zacks Investment Research.

Revenue was $5.5 billion, just shy of expectations.

Macy's stuck to its full-year earnings projections of between $3.05 and $3.25 per share, about in line with expectations.

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Portions of this story were 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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