Macy’s spring sales impress

Macy’s, the second biggest US department store, has reported a higher than expected quarterly profit. The company said it had seen its best spring quarter for over a decade, with a 64 per cent jump in profit. Macy’s said it got a lift from its strategy of tailoring merchandise to local markets. The department store chain is also boosting its full-year profit outlook. Net income jumped to £148.3m from £90.4m the previous year, while sales grew 7.3 per cent to £3.6bn, including a 40.2 per cent increase in online sales.