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Hold off on that funeral dirge for Macy's. The department store isn't dead yet.Macy's topped Wall Street's profit forecasts Tuesday and provided a healthy outlook for this year.The results strongly suggest there is still room for traditional stores in the mall in a world increasingly dominated by the likes of Amazon and Walmart.Macy's chairman and CEO Jeff Gennette said the company was "encouraged" by improvement at the company's brick-and-mortar stores and continued growth in online sales.Gennette said digital revenue posted a double-digit percentage increase for the 34th quarter in a row, a run of more than eight years.And the company is still investing heavily in its Bluemercury chain of specialty beauty stores and the discount outlet Backstage. Macy's said it opened 36 Bluemercury stores and 30 Backstage stores last year, even as it closed 16 Macy's stores.Gennette added during a conference call with analysts that Macy's plans to open 100 more Backstage locations this year, including in malls.Macy's is also selling real estate to shore up its balance sheet. The company said it raised 1 million last year and .3 billion over the past three years by getting rid of some stores, warehouses and parking garages.Macy's is also working with real estate company Brookfield Asset Management on other transactions.Macy's said Tuesday it is selling several floors in its State Street store in Chicago to a real estate fund backed by Brookfield for million. Brookfield plans to convert the floors into office space.All this is good news for Macy's. But one analyst said Macy's needs to do more before its turnaround qualifies as a true Miracle on 34th Street."There is a long tail of shops that look dated, are in sub-optimal locations, and where the customer experience is poor. Macy's must remedy this if it is to transform the business," Neil Saunders, managing director of GlobalData Retail, said in a report.Nonetheless, the real estate transactions and improved sales outlook are two reasons Wall Street has fallen in love with Macy's again.The stock surged nearly 12% in early trading before pulling back a bit. Macy's has soared more than 45% in the past six months.Department store chains Kohl's, Nordstrom and JCPenney — which will all report results later this week — rallied as well Tuesday. Another chain, Dillard's, rose 12% too after it also posted strong quarterly results.Investors are clearly betting that Macy's wasn't the only traditional retailer that had a happy holiday season. 2527

Here is footage of the #Trump campaign #MAGA flag waving outside of #LongBeach PD HQ.??#LBPD spokesperson says the stunt was "unauthorized" & the PD is a "apolitical organization." pic.twitter.com/Nffvsn8ixZ— The Modern Times of Long Beach (@ModernTimesLB) October 4, 2020 284

Harvey Weinstein is facing new allegations of sex trafficking and rape.A German actress, using the pseudonym Emma Loman, filed a federal lawsuit in Los Angeles on Monday, alleging that Weinstein raped her during the Cannes Film Festival in 2006. She is suing Weinstein for violation of human trafficking laws, assault, battery and false imprisonment, according to court documents obtained by CNN."Our client brings her claims in an effort to achieve justice for herself, and she hopes that by doing so she can help open the door to justice for the women in her industry who have undergone similar experiences," John G. Balestriere, the attorney handling Loman's claim, said in a statement to CNN. "Mr. Weinstein must answer these allegations and be held accountable for any damage he has caused our client."Phyllis Kupferstein, an attorney representing Weinstein, told CNN in a statement, "This lawsuit is an attempt to continue the legal barrage and public attention on Mr. Weinstein. The allegations are untrue and the claims are barred by the statute of limitations. We intend to immediately move to dismiss the complaint."According to the suit, Loman said she met with Weinstein at his hotel suite in Cannes, France to discuss starring in an upcoming film project he was producing, but he soon started making sexual advances towards her."Upon arriving at Weinstein's suite, however, Weinstein quickly dropped his professional demeanor," the suit states. "He instead overpowered Loman and raped her. Shocked and betrayed, Loman did not know what to do. Furthering Loman's disorientation, Weinstein proceeded to treat the rape like a standard component of their business, as if the professional discussion he offered Loman had actually taken place."Related: Harvey Weinstein seeks dismissal of indictment due to emails between him and accuserLoman also claims that Weinstein threatened her not to speak of the assault.This is the second sex trafficking case filed against Weinstein.Last week, a federal judge in New York ruled that British actress Kadian Noble can move forward with her sex trafficking lawsuit against the disgraced media mogul.Noble accuses Weinstein of sexually assaulting her in a hotel bathroom in Cannes, France in 2014 after luring her with talk of a potential movie role.Noble filed suit in November against Harvey Weinstein and his brother and then-business partner Bob Weinstein.US District Court Judge Robert W. Sweet granted Bob Weinstein's motion for dismissal but denied one from Harvey Weinstein.The judge wrote it would be the first instance in which a plaintiff asked for the Trafficking Victims Protections Act to be applied to conduct like that alleged in the lawsuit.Weinstein's lawyer said the act should not be applied."A typical sex trafficking case is someone who lures underage girls on the promise of a green card and locking them up in a basement and forcing them to have sex for money," Kupferstein said in a statement at the time.Weinstein, who also is facing criminal charges in New York, has denied all allegations of "non-consensual sexual activity."Weinstein has pleaded not guilty to six felony sex crimes -- two counts of predatory sexual assault, two counts of rape, one first-degree criminal sex act charge and one criminal sex act.Related: Sex trafficking lawsuit against Harvey Weinstein can proceed, judge rulesThe charges stem from allegations from three women, according to court documents. Weinstein remains free after posting million cash bail.The charges against Weinstein came nine months after The New Yorker and The New York Times published accounts from several women accusing him of various forms of sexual misconduct.In a recent interview with CNN, Ben Brafman, Weinstein's New York criminal attorney, said it would be "difficult but not impossible" to seat an impartial jury should Weinstein's case move forward to trial."I hope to find 12 people in Manhattan who may have heard a lot of the allegations against Mr. Weinstein but will give the court their sworn assurances that they will decide this case based on the evidence that comes into the courtroom and not on what they made have read, or what they may have heard," Brafman said. "I think part of what we're trying to suggest in these motions to dismiss is that contrary to what people may have read and may have heard, there is another side here."CNN's Cheri Mossburg and Judy Oehling contribute to this report.The-CNN-Wire 4463

George Washington University is looking into a confession by a professor of African American studies that has been pretending to be Black.Jessica Krug admits she was born a white, Jewish girl from Kansas City — not the Black Latina from the inner city she claimed to be in her books."For the better part of my adult life, every move I've made, every relationship I've formed, has been rooted in the napalm toxic soil of lies," she wrote in a blog post.Krug, whose work has been up for prestigious Harriet Tubman and Frederick Douglas book prizes, is now calling herself a culture "leech."Critics say the author and associated professor made the admission not to clear her conscience but because she was found out.In a blog post, Krug calls herself a "coward" and says she deserves to be "canceled," blaming it all on mental illness."..the mental health professionals from whom I have been so belatedly seeking help assure me that this is a common response to some of the severe trauma that marked my early childhood and teen years," she wrote.She added that her mental health issues do not "explain nor justify" her actions.Essence magazine has removed her writing from its website."... I can’t fix this. I have burned every bridge and have no expectation that any of my relationships are flame resistant. I would never ask for nor expect forgiveness," Krug wrote.George Washington University says it cannot comment further on personnel matters. 1453

General Electric is under such financial stress that new CEO Larry Culp is slashing the troubled conglomerate's 119-year-old dividend to just a penny a share.GE revealed on Tuesday worse-than-expected results and a billion accounting writedown for its beleaguered power division. Culp plans to split up the power division to accelerate a turnaround.The company also announced that the SEC and Justice Department are investigating the charge, which reflects the deterioration of businesses GE has acquired. The news adds to GE's mounting legal problems and helped send the stock to a nine-year low in volatile trading.In a bid to fix GE's debt-riddled balance sheet, Culp announced the company will cut its quarterly dividend from 12 cents a share starting in 2019. By paying just a token dividend, GE (GE) will save about .9 billion of cash per year.Analysts had been anticipating a potential dividend cut, though not one of this magnitude.It's an especially painful move for a company that long viewed its stable dividend as a source of pride. But years of bad decisions forced GE to halve its dividend last November for just the second time since the Great Depression. The dividend cuts deal a blow to the many GE retirees and mom-and-pop shareholders who long relied on the cherished payouts."We are on the right path to create a more focused portfolio and strengthen our balance sheet," Culp said in a statement.Culp, who was suddenly named CEO on October 1, acknowledged during a conference call "this is not a quarter that we're particularly proud of." 1572

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