WWD.com/business-news/business/macys-profits-rise-11-in-quarter-7508380/
government-trade
government-trade

Macy’s Profits Rise 11% in Quarter

Sales slip 1.6 percent due to weather.

Macy’s Inc. reported that net income for the fourth quarter ended Feb. 1 rose 11 percent to $811 million from $730 million in the year ago quarter.

 

Sales, hurt by the harsh weather in January, totalled $9.2 billion, down 1.6 percent from $9.35 billion in the year-ago quarter. Comparable sales rose 2.3 percent, including licensed departments.

 

For the year, Macy’s earned $1.49 billion compared to $1.34 billion in 2012, while sales rose slightly to $27.9 billion from $27.7 billion.

 

RELATED CONTENT: WWD Earnings Tracker >>

RELATED STORY: Macy’s Sets Strategy to Keep Momentum >>