Macy's Earnings: Not as Bad as Investors Seem to Think

After posting dreadful sales and earnings results in the first quarter, Macy's (NYSE: M) got back on a better trajectory last quarter. Sales and earnings per share both came in slightly ahead of analysts' estimates.

Nevertheless, shares of Macy's plunged following its earnings report last week, falling to a new multiyear low. Investors appear to be wholly focused on the fact that sales and earnings are still declining, rather than on the evidence that Macy's is starting to stabilize its business. Macy's stock has now lost more than half of its value since December.

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Source: Fool.com