Macy’s quarterly profit, sales beat estimates on holiday lift
“The challenge with Macy’s is that it is in the struggling department store sector and many of its locations just aren’t good,” Sucharita Kodali, retail analyst at Forrester Research, said.
The company, which operates roughly 70 stores with a strong Asian customer base, is working with vendor partners to minimize disruption, the executives said. Macy’s reported a small decline in holiday same-store sales in January, surprising investors who were bracing for a sharper drop after a profit warning citing weak international tourism and sluggish mall traffic.
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