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Macy’s beats on top and bottom line   2 Hours Ago|01:30 Macy’s reported Thursday fiscal second-quarter sales and earnings that topped analysts’ expectations, as shoppers responded to the department store’s steep discounts. Yet with sales still on the decline, the retailer said it will shutter 100 locations to focus on its best-performing stores. The company’s shares shot more than 15 percent higher in early trading. “Whenever there’s been a setback in our company, we’ve been first in the industry to take a very aggressive stance at moving us forward,” CEO Terry Lundgren told CNBC’s “Squawk Box.” “That’s just part of it. By closing 100 stores… we’re getting out in front of this.”

Source: Macy’s reports second-quarter earnings