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Macy's Q4 profit rises 50% on strong holiday selling season
Cincinnati -- Macy’s reported Tuesday that net income jumped 50% in the fourth quarter ended Jan. 29, and projected its full-year profit would meet Wall Street expectations.
After a strong holiday season, the retailer earned $667 million in the fourth quarter, compared with $445 million in the year-ago period.
Revenue rose 5% to $8.27 billion, just missing analysts’ average forecast for $8.28 billion. Same-store sales increased 4.3%.
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Home Depot earnings soar 72% in Q4
Atlanta -- Home Depot reported Tuesday that profit for the quarter ended Jan. 30 surged 72% to $587 million, compared with $342 million a year earlier, and and the home-improvement chain provided 2011 guidance at or above the views it gave in December. Results were helped by a strong showing in the United States.
Revenue increased 3.8% to $15.12 billion, beating Wall Street expectations of $14.81 billion. Same-store sales rose 3.9% and were up 4.8% in the United States.