Macy's Reports Profit but Same-Store Sales Fall

Department store operator Macy's reported a quarterly profit Wednesday against a year-earlier loss on lower merger costs, but sales at stores open at least a year declined.

Macy's net income came to $33 million, or 8 cents a share, for the third quarter ended Nov. 3, compared with a loss of $3 million, or 1 cent a share, a year earlier.