Macy's, Saks holiday sales top

Investor's Business Daily

Macy's (M)said Q4 EPS climbed 21% to $2.05, beating view by 6 cents as its strategy to woo younger, more affluent consumers paid off. Sales rose 7.2% to $9.35 bil, slightly above views of $9.3 bil, the best revenue gain in 6 quarters. It sees full-year EPS of $3.90-$3.95 this year, well above analyst views of $3.81. Shares rose 2.8% to 39.59. Saks (SKS), the operator of Saks Fifth Avenue, said Q4 EPS was flat at 17 cents. Sales grew 5.6% to $976.6 mil, beating. Shares rose 1.6% to 11.22.

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