Macy's Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Macy's Inc. (M) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $38 million, or $0.13 per share. This compares with $62 million, or $0.22 per share, last year.

Excluding items, Macy's Inc. reported adjusted earnings of $46 million or $0.16 per share for the period.

Analysts on average had expected the company to earn $0.15 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 5.1% to $4.599 billion from $4.846 billion last year.

Macy's Inc. earnings at a glance (GAAP) :

-Earnings: $38 Mln. vs. $62 Mln. last year. -EPS: $0.13 vs. $0.22 last year. -Revenue: $4.599 Bln vs. $4.846 Bln last year.

-Guidance: Full year EPS guidance: $1.60 - $2.00 Full year revenue guidance: $21.0 - $21.4 Bln