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Macy's closes out a horrendous year with hope for 2021

New York 2020 pandemic Department
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NEW YORK – Macy's fourth-quarter profit plunged 52% and sales slid nearly 19%. In the context of a year spent under the weight of a pandemic, that was seen as a pretty good ending to 2020 for the besieged department store.

Shares rose more than 3% before the opening bell Tuesday with Macy's predicting sales of up to $20.75 billion this year, far exceeding the roughly $17 billion that Wall Street had been projecting.

Macy's also expects adjusted earnings per share in the range of 40 cents to 90 cents for the year, much better than the $2.92 loss that analysts forecast, according to FactSet. “Macy’s, Inc.

anticipates 2021 as a recovery and rebuilding year as the company sets a foundation for growth, " the department store said in its release.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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