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Macy's Inc forecast 2021 sales largely above Wall Street estimates on Tuesday as the retailer bets on its growing online business and the return of customers to its department stores when Covid-19 vaccinations curb the impact of the pandemic.
The upbeat outlook from the US retailer follows better-than-expected sales in the holiday quarter as stimulus checks and strong online demand eased the blow from the health crisis.
Macy's expects sales between $19.75 billion and $20.75 billion for the full year, compared with analysts' estimates of $20.13 billion, according to IBES data from Refinitiv.
Macy's said its annual forecast accounted for
