) was higher despite saying an employee died Sunday at a potash mine in Saskatchewan, temporarily shuttering the operation as the company conducts an investigation.
Macy’s said on Tuesday it expects its full-year adjusted earnings in the range of US$2.55 to US$2.90 per share. It had earlier forecast earnings of US$2.45 to US$2.85 per share. Although Macy’s overall selling, general and administrative expenses fell to US$1.9-billion, a US$39-million decrease compared to the year-ago period, its executives have struggled to find the right mix of merchandise for its Macy’s stores.
Excluding items, first-quarter adjusted profit came in at 27 US cents per share, topping LSEG estimates of 15 US cents.) increased after it raised its annual forecast for profit and revenue, helped by robust demand for its product portfolio as companies continue to adopt hybrid work. “In Q1, we continued to integrate AI across our platform including Zoom Contact Center and Zoom Workplace, our AI-powered collaboration platform,” CEO Eric Yuan said.
The company posted revenue of US$1.14-billion, up 3.2 per cent, for the first quarter ended April 30 and above analysts’ expectations of $1.13 billion.) board has approved a 10-for-1 stock split and share buyback worth up to US$10-billion, the chip-making equipment firm said on Tuesday, amid signs that its business was benefiting from the AI-fueled jump in semiconductor demand.
“We continue to believe the company remains well-positioned to consolidate security spend and to maintain above-peer growth,” analysts at RBC Capital Markets said) reported a lower-than-expected drop in quarterly sales on Tuesday, helped by more small-scale repairs undertaken by inflation-hit Americans, who have otherwise cut back on big-ticket discretionary home improvement projects.
It said the launch of its DIY loyalty program nationally during the quarter to attract more customers as well as expansion of its same-day delivery options helped it take market share in key categories.“Lowe’s went from what looked like an earlier quarter ‘miss’ to modest upside given a late quarter surge as spring started to break in different parts of the country,” said Truist Securities analyst Scot Ciccarelli.
Source: News Formal (newsformal.com)
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