2/22/2022, 1:00 PM (Source: TeleTrader)
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Chart for: Macy's Inc

Macy's Q4 net sales at $8.7B, up by 28% YoY

Macy's Inc. reported on Tuesday that its net sales for the fourth quarter of 2021 rose 28% when compared to the same period last year to stand at $8.7 billion.

The company's net income in the fourth trimester stood at $742 million, an increase in comparison to last year's $160 million. The retailer's diluted earnings per share climbed to $2.44.

“Our results in the fourth quarter delivered a strong end to a solid year. I am proud that Macy’s, Inc. outperformed expectations on both the top and bottom lines every quarter in 2021, despite COVID-19 related disruptions, supply chain issues, labor shortages and elevated inflation,” Macy's Chairman and Chief Executive Officer (CEO) Jeff Gennette stated.

The company's shares went up by 7% in the premarket trading following the release of the report.

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