The Secret to Macy’s Rebound? Cutting Down Inventory

Macy’s Inc. is still on a hot streak, and it has savvy buying to thank for it. The company reported second-quarter earnings on Wednesday morning, topping analyst estimates across the board. It said it earned $185 million, or $0.59 per share, when excluding impairment and other costs, settlement charges and losses on the early retirement of debt, as well as asset sale gains. This easily beat the consensus estimate of $0.51 per share. The company also raised its full-year earnings guidance,...

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