Shares of Macy’s (NYSE: M) have extended the bullish weekly run after the company’s quarterly earnings showed that sales matched analysts’ expectations. Macy’s share price is now up over 18% on the week, recovering from the record lows set in April. Fundamental analysis: Sales match expectations As expected, Macy’s reported a first-quarter loss. The retailer reported an adjusted loss per share of $2.03, in line with Wall Street expectations. Revenue came in at $3.03 billion, slightly higher than $3.01 billion expected from the market. “The first quarter of 2020 was challenging for the country, the industry and Macy’s, Inc. While
The post Macy’s stock price extends its bullish run, now up 18% on the week appeared first on Invezz.
