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Macy’s Q1 EPS $0.60, boosts dividend by 25%

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Investing.com -

Investing.com - U.S. department store operator Macy's reported first quarter earnings that were broadly in line with market expectations and announced a 25% increase to its quarterly dividend, it said Tuesday.

Macy's said adjusted earnings per share came in at $0.60 in the first quarter, in line with expectations. The company's first quarter revenue totaled $6.28 billion, missing forecasts for revenue of $6.47 billion.

Macy's comparable sales declined 1.6% in the first quarter, disappointing expectations for an increase of 1.3%.

Based on expectations for continued strong performance in 2014, the company also announced a 25% increase in its dividend on common stock and a $1.5 billion increase in its share repurchase authorization.

Following the release of the report, Macy's (NYSE:M) shares rose by 1% in pre-market trade.

Meanwhile, the outlook for U.S. equity markets was mildly lower. The Dow pointed to a drop of 0.1% at the open, the S&P 500 indicated a loss of 0.1%, while the Nasdaq 100 signaled a decline of 0.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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