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

(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 February 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.

(Reporting by Phil Wahba in New York; Editing by Lisa Von Ahn)

Join the conversation about this story »