Little Advantages Have Macy's Beating Competition
NEW YORK (AP) - Macy's Inc. is dominating its competition and bouncing back from the recession by doing many little things well: adding local flavor to its stores, snagging hit exclusives like Madonna's clothing line and keeping its own costs under control.
All that contributed to soaring first-quarter earnings that crushed Wall Street forecasts, a boosted outlook and doubling the dividend it pays shareholders. Macy's stock price rose nearly 8 percent Wednesday.
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