Sales at Macy’s stores open more than 12 months, including sales in departments licensed to third parties, fell 2.5 percent.
However, this came in better than the 3 percent drop expected by analysts polled by research firm Consensus Metrix,
Net income attributable to Macy’s shareholders rose to $116 million, or 38 cents per share, in the second quarter ended July 29 from $11 million, or 3 cents per share, a year earlier.
The company recorded impairment charges of $249 million in the year-earlier period.
Net sales fell 5.4 percent to $5.55 billion.
Reporting by Sruthi Ramakrishnan in Bengaluru,