NEW YORK (TheStreet) -- Investors bought a little Macy's
(M - Get Report) Tuesday. Shares of the retail giant rose ahead of its earnings report Wednesday before the bell.
StockTwits.com users expect that the retail giant will report better-than-expected results.
The stock rose 0.78% Tuesday. Analysts expect 59 cents in earnings per share on $6.46 billion in sales, according to stats on Yahoo Finance. The stock closed at $57.84 on Tuesday.The StockTwits community pointed to recent retail sales reports as evidence that results and, more importantly, guidance, would be strong. Pent-up demand from the snowy winter boosted the current quarter and will lead to good guidance from many retailers, they said.
Redbook (+4.2%), @ICSC (+3.9%) say retail sales last week were strong. After tough Q1, retailers can claim Q2 off to good start $M $JCP $JWN ? Rahul Sharma (@retail_guru) May. 13 at 09:22 AM
$M should have better revenue this quarter http://stks.co/g0bhS ? Alpha_Now (@AlphaNow) May. 12 at 05:31 PMInvestors also pointed to Macy's recent post-earnings stock performance as evidence that the company likes to set expectations so it can impress during earnings. The stock rose nearly 4% in the first month after the prior earnings announcement.
Last 4 qrtrs of $M's price movement on the earnings announcement. Reporting on Wednesday. http://stks.co/f0beA ? TradingTheDate (@TradingTheDate) May. 12 at 11:00 AMAt the time of publication the author held no positions in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.