Market Update
Macy's (M) reports quarterly earnings before the bell Wednesday. A consensus of Street estimates projects the firm to clock earnings per share of $0.17, compared with $0.05 in the prior-year quarter.
Macy's sales will numbers provide insight into the state of consumer spending, and thereby the economy. Analysts will likely watch for whether more shoppers took to online orders in a bid to prevent more shopping-mall visits because of rising gas prices.
Also, management may comment on how the firm plans to face the issue of rising labor and input costs and whether it feels consumers would not shy away if pricing were increased.