Macy’s (M) reports Q4 2021 earnings beat


People wear facemasks as they walk through Herald Square on January 8, 2021 in New York City.

Angela Weiss | AFP | Getty Images

Macy’s on Tuesday reported fiscal fourth-quarter earnings and sales that outpaced analysts’ estimates and said that a strategic review has prompted the retailer to accelerate its turnaround plans.

It is rejecting calls from activist Jana Partners for it to split its e-commerce operations from its stores, following a similar move by Saks Fifth Avenue. Macy’s had been working with consulting firm AlixPartners to consider the best path forward for the business.

Macy’s shares rose more than 4% in morning trading following the news.

During the holiday period, the…

Source cnbc.com

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