(Reuters) – Macy’s Inc topped market expectations for comparable sales in the crucial holiday quarter, benefiting from its strategy to overcome supply chain snags by stocking up in advance, sending the shares of the department chain up over 4% on Tuesday.
Same-store sales at Macy’s owned stores open for at least a year surged 28.3% in the fourth quarter ended Jan. 29, topping analysts’ average estimate of a 24.8% increase, according to Refinitiv data.
(Reporting by Deborah Sophia in Bengaluru; Editing by Arun Koyyur)
