Tomahawk, WI 2/26/2014 (Basicsmedia) – Macy’s, Inc. (NYSE:M) is moving up slowly and steadily after breaking out on the upside, Click on below link to see how you should trade the stock going forward based on Technicals.

Macy’s, Inc. (NYSE:M) was one of the top gainers in Tuesday trading session after shaking January storms, to turn in  stronger than expected earnings that cemented its momentum towards profitability. January presented the biggest challenge to the company’s operational stores as harsh weather conditions meant sales target could not be achieved.

Fiscal quarter results

Macy’s, Inc. (NYSE:M) net income was one of the impressive performers for the period ending February 1 as it grew by 11% to come in at $811 million compared to $730 million reported for the same period a year ago. Sales were massively impacted by the harsh weather conditions during the period  as they dropped by 1.6% to clock in at $9.20 billion compared to $9.35 billion reported a year ago same period. Comparable store sales on the other hand performed exemplary better than expected amidst the harsh environmental conditions, to grow by 1.4%.

Special charges incurred

Macy’s, Inc. (NYSE:M) results for the quarter could have been better but were heavily affected by special charges mostly related to restructuring expenses and early retirement of outstanding debts as well write-downs. Excluding this charges earnings per share could have come in at $2.31 up from $2.05 that was reported for the same period a year ago and should have toppled consensus estimates of $2.17.

Macy’s looking forward

Macy’s, Inc. (NYSE:M) Chief financial officer maintains that the growth metrics the company has been showing in the recent past is set to continue in the current quarter. Earnings per share in F2013 grew by double digits of 16% a trend that has been ongoing since the company engaged in restructuring process that involved the implementation of the ‘MOM’ strategy. Macy’s is currently planning to localize is stores in terms of increased marketing structures and Merchandising.

Macy’s, Inc. (NYSE:M) shares moved up by 6% on Tuesday trading session to clock highs of $56.25.

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