Macy''s and Nordstrom report declining sales and profits in the fourth quarter as consumers hold on to their wallets. Macy''s sales in the fourth quarter fell 6.2% to $8.6 billion and earnings per share from continuing operations rose to $1.73 from $1.45. Prior to one-time adjustments earnings were $1.65 per shre. Macy''s guided same store declie between 1% and 1.5% for fiscal 2008. Nordstrom fourth quarter earnings were $212 million or 92 cents per share compared to $232 million or 89 cents. |
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