Earnings Reports

Macy's Surprises Wall Street With a Profitable Quarter Amid Mall Store Closures

Results appear to be an early vindication of the retailer's Polaris initiative

macys new york
Longstanding challenges remain for Macy's.Alexi Rosenfeld/Getty Images
By Robert Klara

February 24, 2021

A year after announcing it would close 125 stores and on the heels of three quarters of losses, Macy’s announced a profitable Q4 on Tuesday. Net income for the 13 weeks ended Jan. 30 reached $160 million on net sales of nearly $6.8 billion.

Robert Klara

Robert Klara is a senior editor, brands at Adweek, where he specializes in covering the evolution and impact of brands.

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