While you were sleeping: Macy’s upbeat outlook boosts Wall St

Wed, 16 May 2018

By Margreet Dietz May 17 (BusinessDesk) - Wall Street rose as better-than-expected results from Macy’s lifted its shares as well as those of other retailers and underpinned optimism about consumer spending and the economic outlook. Shares of Macy’s rallied, up 11 percent as of 3.11pm in New York, after the department store chain upgraded its earnings outlook. First-quarter results “reflect continuing momentum in the business,” Jeff Gennette, Macy’s chief executive officer, said in a statement. “We exceeded our expectations and saw st...

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