1. Corporate Finance

Macy’s posts earnings gain as same-store sales fall

Macy’s reported earnings per share of 80 cents during the fourth quarter, well above analyst expectations, even as its same-store and total sales fell. The retailer said that reduced discounting and a decision to cut inventory levels were behind its earnings gain. Macy’s said 2021 would be a rebuilding year, with sales picking up in the second half.

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