**Macy’s Department Stores Inc.** pleasantly surprised investors on Wednesday, reporting fiscal first-quarter revenue that surpassed estimates and a narrower loss..
The company reported a net loss of $344 million, or $1.06 per share, for the three-month period ended April 30. This is in contrast to the $363 million, or $1.14 per share, shortfall witnessed in the same timeframe last year..
Adjusted for one-time items, the home goods retailer lost $1.01 per share, outperforming market observers’ consensus forecast for a loss per share of $1.11..
Macy’s achieved a total net sales figure of $5.39 billion, a 15.6% increase year-over-year, and above the $5.27 billion analysts expected. Comparable sales climbed by 13.4% across the company’s namesake brand, outpacing the 11.9% anticipated by analysts..
During an earnings call with analysts, Macy’s CEO Jeff Gennette highlighted that the company’s efforts to enhance the customer experience, such as expanded omnichannel capabilities and in-store conveniences, are driving positive outcomes..
One notable factor contributing to Macy’s success in the quarter was its .
