Macy's trying to stage a recovery

Macy's (NYSE:M) reports owned plus licensed comparable sales fell 0.5% in Q4 to land ahead of the consensus estimate for a drop of 2.3%.
"We were pleased with the significant trend improvement in the fourth quarter, including a meaningful sales uptick in the 10 shopping days before Christmas," notes Macy's CEO Jeff Gennette.
The company's gross margin rate fell 70 bps to 36.8% of sales during the quarter vs. 36.9% consensus.
Looking ahead, Macy's sees sales of $23.6B to $23.9B vs. $23.8B consensus and EPS of $2.20 to $2.40 vs. $2.46 consensus. Seekingalpha