Macy's Stock Soars as 'Omni-Channel' Retailer's Comparable Sales Unexpectedly Rise
1. Macy's exceeded profit forecasts, boosting its 2023 earnings outlook. 2. Comparable sales grew at Macy's, Bloomingdale's, and Bluemercury stores. 3. Adjusted EPS increased to $0.41, more than double analysts' predictions. 4. SG&A expenses were cut by $29 million, improving financial efficiency. 5. Shares jumped nearly 20%, but remain down over 5% year-to-date.