Macy's Earnings Are Imminent; These Most Accurate Analysts Maintain a Market Perform Rating Ahead Of The

Macy’s Inc (NYSE:M)willreport its fiscal first quarter results before opening bell on Wednesday, June 3.

Analysts expect the New York City, New York-based company to report EPS of $0.03 for the quarter on revenue of $4.61 billion. While this represents a steep sequential decline from the holiday-boosted fourth quarter, it aligns with historical seasonal trends and represents flat year-over-year revenue.

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Berkshire Hathaway disclosed a new stake in Macy's during the first quarter, acquiring 3,038,355 shares worth approximately $55 million, representing about a 1% ownership. Investors will closely watch Macy's first quarter report and future filings from Berkshire Hathaway to see whether it raises its stake in the retailer.

Macy's shares rose 0.60% to close at $21.67 on Tuesday.