Macy’s 4Q prof­its down but good signs for 2016

China Daily (Canada) - - BUSINESS -

Macy’s Inc has wrapped up a weak fis­cal year on an en­cour­ag­ing note, but the US largest depart­ment store re­tailer still sees chal­lenges ahead. Macy’s, which also op­er­ates Bloom­ing­dale’s stores, re­ported a 31 per­cent de­cline in fourth-quar­ter prof­its, dragged down by store closings and other costs. But the ad­justed re­sults beat­Wall Street es­ti­mates and sales picked up in the fi­nal weeks of the hol­i­day quar­ter as win­ter fi­nally ar­rived, driv­ing sales of coats and boots higher. A very warm win­ter plagued re­tail­ers dur­ing the most crit­i­cal sell­ing pe­riod of the year. But the com­pany said that it

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