Macy's Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Macy's Inc. (M) reported a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $43 million, or $0.15 per share. This compares with $108 million, or $0.39 per share, in last year's third quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $59 million or $0.21 per share for the period.

Analysts on average had expected the company to earn $0.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.1% to $4.86 billion from $5.23 billion last year.

Macy's Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $43 Mln. vs. $108 Mln. last year. -EPS (Q3): $0.15 vs. $0.39 last year. -Analyst Estimates: $0.00 -Revenue (Q3): $4.86 Bln vs. $5.23 Bln last year.

-Guidance: Full year EPS guidance: $2.88 - $3.13 Full year revenue guidance: $22.9 - $23.2 Bln