(Reuters) – Department store chain Macy’s Inc (N:) on Tuesday reported quarterly comparable sales that beat Wall Street estimates with the help of a smaller-than-feared decline in holiday sales. Macy’s shares rose 7% in pre-market trade. Comparable sales at Macy’s owned and licensed stores fell 0.7% in the fourth quarter ended Feb. 1, compared with the 0.93% drop estimated by analysts, according to IBES data from Refinitiv. Net income attributable to the company fell to $340 million, or $1.09 per share, from $740 million, or $2.37 per share, a year earlier.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.