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Macy’s Surprises with $100mn Profit; Ups Outlook for 2021

by bondevalue | May 19, 2021 | High Yield Bonds

US retailer Macy’s reported Q1 net profits of $103mn vs. a loss of $3.6bn a year earlier with revenues jumping to $4.7bn, 56% YoY. The results were a surprise as analysts expected a loss in the quarter. Macy’s comparable sales grew 62.5% and 63.9% YoY on an owned and...

Macy’s Surprises with $100mn Profit; Ups Outlook for 2021

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