Macy’s holiday quarter exceeds estimates but shares sink

Macy’s Inc holiday-quarter results beat analyst expectations on Tuesday, but investor skepticism around its cost-cutting strategy at a time of intense online competition sent shares down more than 5 percent. Earlier this month, Macy’s said it would close 125 stores, including those based in “lower tier” shopping malls, and explore new off-mall formats in order… Continue reading at New York Post