By  on November 10, 2010

Macy’s Inc. executives said Wednesday that third-quarter profits and sales beat their expectations, overcoming sluggishness in early October, and exuded optimism about the upcoming holiday season to a degree not seen in years.

“Our results continue to build, and with each quarter come new initiatives where we haven’t fully realized our potential. These just become additive,” Terry J. Lundgren, Macy’s chairman, president and chief executive officer told WWD. “The last couple of years we were all concerned about how the holiday season would turn out, but last year we ended up having a very good fourth quarter. I felt OK. I didn’t feel good at all about 2008. Certainly, this is a better moment in time.”

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