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Macy's emerges from pandemic by swinging to surprise profit

New York covid-19 pandemic
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Macy’s emerged from an unprecedented year with a surprising swing back into the profit column and it and boosted its guidance for all of 2021.

Shares jumped 7% before the opening bell Tuesday. The retailer on Tuesday posted net income of $103 million after massive losses during the same period last year when stores were forced to lock their doors in an effort to halt the spread of COVID-19.

On a per-share basis, the New York company's net income was 32 cents, or 39 cents if one-time charges are removed. Earnings, adjusted for one-time gains and costs, came to 39 cents per share, when Wall Street was looking for losses of about 41 cents per share, according to a survey by Zacks Investment Research.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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