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Summary Box: Macy's 4Q net income rises

Associated Press Published: February 21, 2012
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THE PERFORMANCE: Department store chain Macy's Inc. reported fourth-quarter earnings of $1.74 per share on revenue of $8.72 billion. Adjusted earnings were $1.70 per share. Analysts polled by FactSet expected earnings of $1.65 per share on revenue of $8.7 billion.

THE DRIVERS: Macy's said Tuesday that its holiday sales were strong, thanks in part to its product assortment and self-gifting. Online sales, which include results from both the Macy's and Bloomingdale's web sites, soared 40 percent in the quarter.

THE OUTLOOK: Macy's anticipates fiscal 2012 earnings of $3.25 to $3.30 per share. Analysts expected $3.27 per share.