Macy's shares slide after earnings beat and fiscal outlook raised
Macy's reported better-than-expected quarterly earnings and raised its fiscal-year outlook. Despite this, the stock declined 3.8% to $20.70 in early afternoon trading, following a 4.2% drop in the previous session.
Macy's stock was on course to extend its recent decline on Thursday, even after the retailer posted quarterly earnings that topped expectations and lifted its fiscal-year outlook. 2% drop in the previous session.