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Macy's holiday-quarter sales miss analysts' estimates


    (Reuters) - Department store chain Macy's Inc reported a less-than 2 percent rise in sales in the holiday shopping quarter, falling short of analysts' estimates.

    Macy's net income fell to $793 million in the fourth quarter ended Jan. 31, from $811 million a year earlier.

    However, earnings rose to $2.26 per share from $2.16 due to a lower share count.

    Net sales rose to $9.36 billion from $9.2 billion. Analysts on average had expected $9.39 billion, according to Thomson Reuters I/B/E/S.

    The company's shares were down 1.7 percent at $63.10 in premarket trading on Tuesday.

    (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Maju Samuel)