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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.
While comp-store sales were down by 17%, digital sales grew by 21% and made up 44% of sales overall. Meanwhile, the legacy retailer announced adjusted an earnings per share of 80 cents, significantly beating the estimates of analysts, who’d forecast EPS of only 12 cents.
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