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Macy's Q2 revenues rise 1.1 percent

By Prachi Singh

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American department store operator Macy's said on Wednesday its Q2 revenue for 2018 increased 1.1 percent. Revenue for the first half period also rose 1.1 percent to 11.112 billion dollars.

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The company’s sales in Q2 2018 were 5,572 million US dollars, up from 5,636 million US dollars a year earlier. Net income reached 166 million US dollars against 111 million dollars, same quarter last year. Net income for the first half was 306 million dollars compared to 189 million dollars last year.

Macy's Inc was founded in 1858 by Rowland Hussey Macy and is based in New York, USA. A specialty retailer operates through Macy’s and Bloomingdale’s department stores and more than 160 specialty stores that include Bloomingdale’s The Outlet, Bluemercury, Macy’s Backstage and Story. The company is also known for its annual Macy's Thanksgiving Day Parade in New York City held since 1924 and has sponsored the city's annual fourth of July fireworks display since 1976.

Offering clothing, footwear, accessories, furniture and beauty products, the New York-listed company has about 130,000 employees worldwide and operates more than 850 stores.

For more recent news on the business, collections and executive changes of Macy's Inc, click here.

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