Macy's Inc. Q3 Profit Decreases, But Beats Estimates

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

The company's bottom line totaled $28 million, or $0.10 per share. This compares with $41 million, or $0.15 per share, in last year's third quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $11 million or $0.04 per share for the period.

Analysts on average had expected the company to earn $0.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.4% to $4.742 billion from $4.860 billion last year.

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

-Earnings (Q3): $28 Mln. vs. $41 Mln. last year. -EPS (Q3): $0.10 vs. $0.15 last year. -Revenue (Q3): $4.742 Bln vs. $4.860 Bln last year.