Macy's Inc. Q2 Profit Decreases, but beats estimates

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

The company's bottom line totaled $275M, or $0.99 per share. This compares with $345M, or $1.08 per share, in last year's second quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $277 million or $1.00 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.9% to $5.60 billion from $5.65 billion last year.

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

-Earnings (Q2): $275M. vs. $345M. last year. -EPS (Q2): $0.99 vs. $1.08 last year. -Analyst Estimates: $0.85 -Revenue (Q2): $5.60 Bln vs. $5.65 Bln last year.

-Guidance: Full year EPS guidance: $4.00 - $4.20 Full year revenue guidance: $24,340 -$24,580 Mln