-
Macy’s Q1 earnings soar; raises outlook
Cincinnati -- Macy’s first-quarter earnings soared and easily beat Wall Street predictions on rising sales, tight expense controls and its efforts to tailor merchandise by region. The department store operator is doubling its quarterly dividend and raising its full-year earnings and sales outlook.
Macy’s posted net income of $131 million for the quarter that ended on April 30, nearly six times higher than the $23 million it reported a year earlier.
-
MasterCard Spending Pulse: April’s total retail sales up 8.8% year-over year
Purchase, N.Y. -- Excluding auto sales, total retail sales in April 2011 grew by 8.8% year-over-year, stronger than March’s growth rate, and substantially higher than the average 7.1% year-to-year growth rate of the previous quarter, according to MasterCard Advisors’ SpendingPulse, a macroeconomic report tracking national retail and service sales.