US department store chain Macy's sees income doubling annually

By Ovunc Kutlu

ANKARA (AA) - American department store chain Macy's saw its income more than double annually, according to its financial results statement released Thursday.

The company had a net income of $286 million during the 13 weeks ending April 30 this year, the statement showed.

The figure is up 177.7% from $130 million during the 13 weeks ending May 1, 2021, it added.

The firm's net sales rose 13.6% to $5.35 billion, from $4.71 billion, during that period.

It said it expects the net sales to total $24.46 billion to $24.700 billion for this year.

Macy's saw its stock price surging more than 14% to $22.04 per share in pre-market hours, after closing the previous session at $19.21 a share on the New York Stock Exchange.