NEW YORK / AP Macy’s wrapped up a weak fiscal year on an encouraging note, but the nation’s largest department store retailer still sees challenges ahead. Macy’s, which also operates Bloomingdale’s stores, reported a 31 percent decline in fourth-quarter profits, dragged down by store closings and other costs. But the adjusted results beat Wall Street estimates and sales picked up ...

Bloomberg Wesfarmers Ltd. posted a 1.2 percent increase in first-half profit and created a new department stores division as the nation’s largest retailer seeks to trim costs. Net income was A$1.39 billion ($1 billion) in the six months ended December 31, up from A$1.38 billion, the Perth, Western Australia-based company said in a regulatory statement Wednesday. That compared with expectations ...

CAPE TOWN / Bloomberg South Africa is considering merging two state-owned airlines and selling off a stake in the enlarged carrier to private investors, Finance Minister Pravin Gordhan said. The government will “explore the possibility of merging South African Airways (SAA) and SA Express, under a strengthened board, with a view to engaging with a potential minority equity partner,” Gordhan said ...