Macy's posts higher net, raises full-year outlook

Markets Reuters

Macy's raised its profit per share forecast for the current year 10 cents to a range of $2.70 to $2.75, and expects $1.52 to $1.57 of that to come in the holiday quarter.

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Macy's, which also owns the upscale Bloomingdale's chain, reported net income of $139 million, or 32 cents a share, for the quarter that ended October 29, compared with $10 million, or 2 cents a share, a year earlier.

The department store operator reaffirmed its sales forecast and still expects same-store sales, or sales at stores open at least a year, to rise between 4 percent and 4.5 percent in the current holiday season quarter.

(Reporting by Phil Wahba in New York, editing by Gerald E. McCormick)

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