RTTNews | Feb 23, 2021 07:02AM EST

07:02 Tuesday, February 23, 2021 (RTTNews.com) - Macy's Inc. (M) reported earnings for fourth quarter that dropped from the same period last year.

The company's profit came in at $160 million, or $0.50 per share. This compares with $340 million, or $1.09 per share, in last year's fourth quarter.

Excluding items, Macy's Inc. reported adjusted earnings of $253 million or $0.80 per share for the period.

Analysts had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.7% to $6.78 billion from $8.34 billion last year.

Macy's Inc. earnings at a glance:

-Earnings (Q4): $253 Mln. vs. $661 Mln. last year.-EPS (Q4): $0.80 vs. $2.12 last year.-Analysts Estimate: $0.12-Revenue (Q4): $6.78 Bln vs. $8.34 Bln last year.

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