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Macy's (M) Stock Surging as Q2 Results Beat Expectations

NEW YORK (TheStreet) -- Shares of Macy's (M) were spiking 10.29% to $37.50 in pre-market trading on Thursday after the company reported better-than-anticipated results for the 2016 second quarter.

Before today's opening bell, the retailer posted adjusted earnings of 54 cents per share, surpassing analysts' expectations of 45 cents per share.

Revenue fell 3.9% to $5.87 billion year-over-year, but was higher than Wall Street's estimates of $5.74 billion.

Comparable-store sales on an owned plus licensed basis were down 2% during...