Macy’s Inc., the nation’s largest department store chain, reported better-than-expected earnings for its fiscal fourth quarter. Earnings rose 12 percent on strong holiday sales that exceeded analysts’ expectations. The company has seen consistent growth for the past three years and projects continued strength in 2012.
“We believe this will be another exciting year in every aspect of growing our business. This includes our online business, which we expect will exceed $2 billion in sales in 2012,” said Macy’s CEO Terry Lundgren.
Shaina Humphries is live-blogging the company’s earnings conference call.