Macy’s Inc. posted a net loss of $35 million for the third quarter, compared to a net loss of $44 million in the prior year.
The direct marketing and retailing giant reported net sales of $5.3 billion for the quarter ended Oct. 31, a decrease from $5.5 million last year.
The Cincinnati company reported that online sales (macys.com and bloomingdales.com combined) were up 21.1% in the quarter.
“Given the difficult economic climate, we had an excellent quarter,” said Terry J. Lundgren, CEO, in a statement.
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