people wear facemasks as they walk through herald square on january 8 2021 in new york city macys on tuesday reported fiscal fourthquarter earnings and sales that outpaced analysts estimates and said that a strategic review has prompted the retailer to accelerate its turnaround plans it is rejecting calls from activist firm jana partners for it to split its ecommerce operations from its stores following a similar move by saks fifth avenue during the holiday period the department store chain said it brought in roughly 72 million new customers chief executive jeff gennette said the department store chain was able to deliver the solid results despite covid19 related disruptions supply chain issues labor shortages and elevated inflation heres how macys did in its fourth quarter compared with what analysts were anticipating based on a survey compiled by refinitiv net income for the threemonth period ended jan 29 grew to 742 million or 244 a share from 160 million or 50 cents per share a year earlier excluding onetime items the retailer earned 245 a share better than the 2 that analysts were looking for revenue grew to 867 billion from 678 billion a year earlier beating expectations for 847 billion samestore sales on an ownedpluslicensed basis rose 278 year over year the metric was up 61 on a twoyear basis macys shares are down about 2 year to date as of fridays market close its market cap is 77 billion this story is developing please check back for updates