Macy's Inc. reported a third quarter loss narrower than expected.
The retail company’s adjusted loss for the three months ending in October was came in at -19 cents per share, better than the Street consensus forecast of -79 cents per share loss. In the prior-year quarter, earnings were in the positive territory, +7 cents per share.
Revenues dropped -22% year-over-year to $3.99 billion, a figure that also exceeded analysts' estimates of $3.86 billion.
Same-store sales fell - 21% year-over-year. But online revenues surged + 27%.