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Nordstrom, Inc.

Macy's 4Q profit slumps, but signs of hope emerge in 2016

Macy's 4Q profit slumps, but signs of hope emerge in 2016

Macy's wrapped up a weak fiscal year on an encouraging note, but the nation's largest department store retailer still sees challenges ahead.

Macy's, which also operates Bloomingdale's stores, reported a 31 percent decline in fourth-quarter profits, dragged down by store closings and other costs. But the adjusted results beat Wall Street estimates and sales picked up in the final weeks of the holiday quarter as winter finally arrived, driving sales of coats and boots higher. A very warm winter early on plagued retailers during the most critical selling period of the year.

But the company says that it doesn't expect to see a key revenue figure turn positive until the fourth...

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