Macy’s Q4 Sales Slightly Sour, Talks Bold New Strategy Of 150 Store Closures In Two Years

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Macy’s Inc (NYSE:M) shares are trading lower on Tuesday premarket.

The company reported fourth-quarter adjusted EPS of $2.45, beating the analyst consensus of $1.96.

Quarterly revenue of $8.12 billion missed the analyst consensus of $8.15 billion. Sales fell 1.7% year over year.

Digital sales decreased 4% year over year, while Brick-and-mortar sales were roughly flat.

Comparable sales, on a 13-week basis, were down 5.4% on an owned basis and down 4.2% on an owned-plus-licensed basis.

The company reported fourth …

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