Department store chain Macy's Inc. (M) Tuesday reported a profit for the fourth quarter that dropped 52.9 percent from last year. Quarterly net sales declined 18.7 percent. Comparable sales down 17.0 percent on an owned basis and down 17.1 percent on an owned plus licensed basis, reflecting the continued challenges posed by the COVID-19 pandemic.
Both adjusted earnings per share and quarterly net sales topped analysts' expectations.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.