- Macy's Inc (M.N) beat estimates for holiday quarter results and forecast annual profit largely above expectations.
- Chief Executive Jeff Gennette said those promotions were "competitive but measured".
- Macy's forecast adjusted full-year profit per share between $3.67 and $4.11, compared with analysts' average expectation of $3.84.
Macy's gives upbeat profit forecast amid retail gloom, shares surge
Macy's Inc beat estimates for holiday quarter results and forecast annual profit largely above expectations as the department store operator looks to rein in promotions to beef up its margins, sending its shares up 10% on Thursday.
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