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Macy's holiday-quarter profit rises despite January sales drop
February 25, 2014 / 1:17 PM / 4 years ago

Macy's holiday-quarter profit rises despite January sales drop

Feb 25 (Reuters) - Macy’s Inc on Tuesday reported a higher quarterly profit as the department store chain had one of the best sales performances among retailers during the holiday season.

Macy’s reported net income of $811 million, or $2.16 a share, for the fourth quarter ended Feb. 1, compared with $730 million, or $1.83 per share, a year earlier.

The company said comparable sales, which include those online and at stores open at least a year, rose 1.4 percent as a sales drop in January contrasted with larger gains in the first two months of the quarter.

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