Macy's Q4 results tops analysts' estimates.

Macy’s is reporting strong fourth-quarter sales and profits that exceeded Wall Street estimates even as the department store chain faced numerous challenges from supply chain issues to labor shortages and inflation

NEW YORK -- Macy's is reporting strong fourth-quarter sales and profits that exceeded Wall Street estimates even as the department store faced numerous challenges from supply chain issues to labor shortages and inflation.

The company reported profits of $742 million, or $2.44 per share, for the three month period ended Jan. 29. That compares with $160 million, or 50 cents per share, in the year- ago period. Adjusted earnings were $2.45 per share.

Revenue was $8.66 billion, up nearly 30% from $6.78 billion in the year-ago quarter.

Analysts were expecting profits of $2.01 per share on $8.46 billion in sales.