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

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.