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Macy's Inc. Q4 Profit Increases, beats estimates

Macy's Inc. (M) released earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $742 million, or $2.44 per share. This compares with $160 million, or $0.50 per share, in last year's fourth quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $745 million or $2.45 per share for the period.

Analysts on average had expected the company to earn $1.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 27.9% to $8.67 billion from $6.78 billion last year.

Macy's Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $742 Mln. vs. $160 Mln. last year.
-EPS (Q4): $2.44 vs. $0.50 last year.
-Analyst Estimate: $1.99
-Revenue (Q4): $8.67 Bln vs. $6.78 Bln last year.

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