Macy’s
The department-store operator boosted its profit outlook after reporting that its second-quarter earnings beat expectations because it benefited from efforts to streamline its structure.
Even though it doesn’t expect consumer spending to improve much in the critical months ahead, its shares rose 93 cents, or 6 percent, to close at $16.40 in Wednesday trading.
Macy’s earned $7 million, or 2 cents per share, in the quarter that ended Aug. 1. That compares with $73 million, or 17 cents per share, in same period last year.
Sara Lee
The maker of frozen cakes and Jimmy Dean sausages narrowed its loss in the fiscal fourth quarter but gave a weak outlook for the year, sending shares of the food maker plunging Wednesday.
Sara Lee saw its revenue shrink by 10 percent to $3.16 billion.
The company reported a loss of $14 million, or 2 cents per share, for the quarter, compared with a loss of $672 million, or 95 cents per share, a year ago.
