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Macy’s holiday-quarter sales beat expectations -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – People line up at Macy’s to shop for Black Friday in Manhattan, New York City. This is November 26th, 2021. REUTERS/Jeenah Moon/File Photo

(Reuters) – Macy’s Inc. (NYSE:) exceeded market expectations in holiday quarter comparable sales. The company’s strategy of overcoming supply chain snags through stocking up ahead helped it increase its shares by over 4% Tuesday.

The fourth quarter of Macy’s own stores opened for less than a year saw sales rise 28.3%, surpassing analysts’ average estimate that there would be a 24.8% gain according to data from Refinitiv.

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