Macy’s emerges from pandemic by swinging to surprise profit

Macy’s emerged from an unprecedented year with a surprising swing back into the profit column, and it boosted its guidance for all of 2021. Sales were fueled by government stimulus checks and and the massive rollout of vaccines that have emboldened Americans to head outdoors again, the company said. CEO Jeff Gennette says that sales of merchandise that was strong during the pandemic, such as home goods, continue to move well. Sales are starting to pick up in other categories as well including dressy sandals, tailored suiting, special occasion items like prom dresses and even luggage.