Macy’s
Net income surged in the second quarter as the retailer saw a payoff from its focus on exclusive moderate-price fashions and on tailoring merchandise to local markets.
Macy’s said Wednesday that it posted net income of $147 million, 35 cents per share, for the period that ended July 31. That compares with $7 million, 2 cents per share, in the same period last year. Revenue rose 7.2 percent to $5.54 billion.
For the quarter, revenue at stores open at least a year increased 4.9 percent.
Cisco Systems
Stronger earnings in the latest quarter were the result of customers continuing to catch up on delayed purchases of networking gear, but the computer-networking gear maker’s chief executive said the company was seeing signs of the economic recovery slowing down.
Cisco said it earned $1.9 billion, 33 cents per share, in the fiscal fourth quarter that ended July 31. That’s up 79 percent from $1.1 billion, 19 cents per share, a year ago.
Revenue rose 27 percent to $10.8 billion, just under analysts’ forecasts of $10.9 billion.
