Department store Macy's Inc (NYSE:M) saw shares surge over 11% in New York as its quarterly results did not depress the market as much as had been feared.
There were steep sales falls as the sector's woes continuebut tighter inventory controls helped boost profit margins.
Macy's also repeated its full-year outlook, going into the key holiday shopping season.
Shares added 11.61% to US$19.61 each.