Americans are feeling good about shopping, and Macy's survival might depend on it M

Get the Full StoryReuters Olivia Harris

Macy's share price soared after the company reported better-than-expected earnings on Wednesday.

Same-store sales rose 4.2 during the first quarter of 2018.

But analysts are skeptical as to how much this success can be contributed to Macy's new strategies and improvements rather than an industry-wide improvement in consumer spending.

Macy's stock price surged Wednesday on news of its strong quarterly results.

"Spirits are up," Karen Hoguet, Macy's longtime CFO, who announced her retirement last month, said in a call with investors shortly after the results were reported. See the rest of the story at Business InsiderNOW WATCH: Trying the McDonald's Waygu Beef Burger only found in AustraliaSee Also:Costco and Sam's Club have a major membership perk that could save your wedding dayChains including Panera and Red Lobster are getting hit with lawsuits after customers say they became ill after eating contaminated romaine lettuce at restaurantsTeens and millennials are obsessed with Gucci we visited a store and saw why they love it so muchSEE ALSO: Macy's just confirmed the end of department stores as we know them