Macy's, Inc. Reports Q4 EPS of $1.59 vs. $1.52

Macy's, Inc. M today reported significantly improved results for the fourth quarter and fiscal 2010. Earnings were $1.55 per diluted share for the 13-week fourth quarter of 2010, ended Jan. 29, 2011. Diluted earnings per share were $1.59 per share in the fourth quarter of 2010, excluding asset impairment charges and other costs and expenses related to store closings announced in January 2011 of $25 million ($16 million after tax or 4 cents per diluted share). This exceeds the company's most recent guidance for fourth quarter earnings per diluted share of $1.44 to $1.49.