Macy's Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Macy's Inc. (M) released earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $742 million, or $2.44 per share. This compares with $160 million, or $0.50 per share, in last year's fourth quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $745 million or $2.45 per share for the period.

Analysts on average had expected the company to earn $1.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 27.9% to $8.67 billion from $6.78 billion last year.

Macy's Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $742 Mln. vs. $160 Mln. last year. -EPS (Q4): $2.44 vs. $0.50 last year. -Analyst Estimate: $1.99 -Revenue (Q4): $8.67 Bln vs. $6.78 Bln last year.