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Macy’s reported its net profit for Q4 dropped on Tuesday. Compared with
the same period last year, revenues also decreased by 1.4 percent.
For Q4, the company’s net profit was 777 million dollar, dropped from
1,287 million dollar last year. Revenues dropped to 8,337 million
dollar. Compared
to 15 percent a year ago, the profit margin of the company decreased to 9
percent.
Macy’s Inc (NYSE: M) is best known for its mid-range chain of department
stores Macy’s. It also owns upscale Bloomingdale’s department stores. The
company was founded in 1858 and currently operates 641 retail stores across
the United States. Macy’s is headquartered in Cincinnati.
As of 2019, Macy’s has more than 130,000 employees and operates over 900
stores.
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