• Macy's closes out a horrendous year with hope for 2021

    4 days ago - By Chron

    NEW YORK - Macy's fourth quarter profit plunged 52% and sales slid nearly 19%. In the context of a year spent under the weight of a pandemic, that was seen as a pretty good ending to 2020 for the besieged department store.
    Shares rose more than 2% before the opening bell Tuesday with Macy's predicting sales of as much as $21 billion this year, far exceeding the $17 billion that Wall Street had been projecting.
    For the final quarter of the year, Macy's reported profits of $160 million, or 50 cents a share. It was 80 cents per share if one-time costs are considered, and that was also far...
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