Department store chain Macy's Inc on Tuesday reported quarterly comparable sales that beat Wall Street estimates with the help of a smaller-than-feared decline in holiday sales. Macy’s shares rose 7per cent in pre-market trade. Comparable sales at Macy's owned and licensed stores fell 0.7per cent in the fourth quarter ended Feb. 1, compared with the 0.93per cent drop estimated by analysts, according to IBES data from Refinitiv.
A woman looks at shoes at Macy's Herald Square during early opening for the Black Friday sales in Manhattan, New York City, U.S., November 28, 2019. REUTERS/Andrew KellyREUTERS: Department store chain Macy's Inc on Tuesday reported quarterly comparable sales that beat Wall Street estimates with the help of a smaller-than-feared decline in holiday sales. Macy’s shares rose 7per cent in pre-market trade. Comparable sales at Macy's owned and licensed stores fell 0.
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