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Macy's fiscal Q4 profit climbs YOY

Macy's Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to $2.40 per share, compared with the S&P Capital IQ consensus estimate of $2.40 per share.

EPS climbed 8.0% year over year from $2.22.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $841.3 million, a gain from $832.5 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin rose to 9.4% from 9.0% in the year-earlier period.

Total revenue grew year over year to $9.36 billion from $9.20 billion, and total operating expenses grew from the prior-year period to $7.92 billion from $7.77 billion.

Reported net income fell on an annual basis to $792.3 million, or $2.26 per share, from $810.2 million, or $2.16 per share.

For the year, the company's normalized net income totaled $4.30 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.35.

EPS rose 11.5% from $3.85 in the prior year.

Normalized net income was $1.55 billion, a gain from $1.48 billion in the prior year.

Full-year total revenue amounted to $28.11 billion, compared with $27.93 billion in the prior year, and total operating expenses totaled $25.23 billion, compared with $25.17 billion in the year-earlier period.

The company said reported net income increased year over year to $1.53 billion, or $4.22 per share, in the full year, from $1.49 billion, or $3.86 per share.