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May 17, 2018

Macy's profits jump thanks to stores, online

By MICHELLE CHAPMAN and ANNE D'INNOCENZIO
AP Business Writers

NEW YORK — With shoppers in a mood to spend, particularly on clothing, Macy's surpassed profit and revenue expectations for the first quarter of the year and raised its outlook.

The company reported its second straight quarter of higher sales at existing stores after a three-year funk. Its shares surged nearly 9 percent Wednesday, and the stocks of other department store chains rose as well.


 
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