Macy’s Q4 results tops analysts’ estimates.

By ANNE D’INNOCENZIO
The Associated Press

NEW YORK (AP) — Macy’s is reporting strong fourth-quarter sales and profits that exceeded Wall Street estimates even as the department store chain faced numerous challenges from supply chain issues to labor shortages and inflation. The company reported profits of $742 million, or $2.44 per share, for the three-month period ended Jan. 29. That compares with $160 million, or 50 cents per share, in the year-earlier period. Adjusted earnings were $2.45 per share. Revenue reached $8.66 billion, up from $6.78 billion. Analysts were expecting profits of $2.01 per share on $8.46 billion in sales. Sales at store opened at least a year _ a critical measure for a retailer’s health _ rose 28.3%. That excludes licensed businesses like cosmetics. Online sales were up 12% for the quarter.