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Macy Narrows Operating Loss: R.H. Macy & Co. said it narrowed its operating loss 10% in the third quarter on higher sales and reduced expenses. For the quarter ended May 1, Macy, which has operated under bankruptcy protection since January, 1992, said its operating loss fell to $54 million from $60 million in the same 1992 quarter. The retailer’s third-quarter net loss was $228 million, up from $226 million a year earlier. The New York-based company operates 110 Macy’s and Bullock’s department stores, 13 I. Magnin stores and 72 Aeropostale and Charter Club specialty units.