suntimes
COMFY 
Weather Updates

Macy’s 4Q profit up 11%; misses forecasts

Macy’s Inc. reported an 11 percent increase fourth-quarter profit but its results missed Wall Street expectations as string winter storms

Macy’s Inc. reported an 11 percent increase in fourth-quarter profit, but its results missed Wall Street expectations as a string of winter storms chilled sales in January. | AP file photo

storyidforme: 62619307
tmspicid: 22576563
fileheaderid: 10865204

NEW YORK — Macy’s Inc. reported an 11 percent increase in fourth-quarter profit, but its results missed Wall Street expectations as a string of winter storms chilled sales in January.

The department store chain, which operates Macy’s and Bloomingdale’s, says that it earned $811 million, or $2.16 per share, in the three months that ended Feb. 1. That compares with $730 million, or $1.83 per share, a year earlier.

Revenue slipped 1.6 percent to $9.2 billion.

Analysts were expecting $2.17 per share on revenue of $9.28 billion, according to FactSet.

Revenue at stores open at least a year rose 1.4 percent, below the 2.5 percent increase that Wall Street analysts expected.

The Cincinnati-based retailer has been a standout among its peers throughout the economic recovery.



© 2014 Sun-Times Media, LLC. All rights reserved. This material may not be copied or distributed without permission. For more information about reprints and permissions, visit www.suntimesreprints.com. To order a reprint of this article, click here.