New York (CNN Business) The pandemic has slammed Macy's and other department stores. Macy's said Tuesday that it turned a profit for the first time in the pandemic, making $160 million during the 13 weeks ended Jan. 30, down from $340 million in the same stretch a year ago. Net sales dropped to $6.8 billion, from $8.3 billion during the same quarter last year. But Macy's (M) beat out Wall Street's projections, sending its stock up 1% during pre-market trading Tuesday. Heading into Tuesday, Macy's stock had dropped 5% over the past year.

Source: The Nation February 23, 2021 14:15 UTC