(Corrects comp sales for Q4 figure)
Feb 25 (Reuters) - Department store chain Macy’s Inc on Tuesday reported quarterly comparable sales that beat Wall Street estimates with the help of a smaller-than-feared decline in holiday sales.
Macy’s shares rose 7% in pre-market trade.
Comparable sales at Macy’s owned and licensed stores fell 0.5% in the fourth quarter ended Feb. 1, compared with the 0.93% drop estimated by analysts, according to IBES data from Refinitiv.
Net income attributable to the company fell to $340 million, or $1.09 per share, from $740 million, or $2.37 per share, a year earlier. (Reporting by Nivedita Balu in Bengaluru Editing by Tomasz Janowski and Alexander Smith)