Macy’s closely watched third-quarter earnings report was disappointing. Contributing to earnings was a $65 million gain on sale of real estate compared to $41 million last year. The company indicated that in the quarter there was double-digit digital growth and that they saw great potential in Backstage off-price operations in Macy’s Stores. The company expects to complete the sale of San Francisco’s Union Square building during the final quarter of fiscal 2017. Real estate sales do not win customers; they just add to earnings results.

Source: Forbes November 09, 2017 15:38 UTC