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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%.