* Q1 loss ex-items 16 cts/shr; Street view loss 20 cts
* Sales down 9.5 percent to $5.2 billion
* Full-year outlook unchanged
* Shares up 1.6 percent in premarket trade
(Recasts, adds analysts' forecast, details)
NEW YORK, May 13 Macy's Inc (M.N) posted a
smaller-than-expected quarterly loss on Wednesday as cost cuts
eased the pain of declining sales at its department stores, and
its shares rose 1.6 percent in premarket trade.
Its net loss widened to $88 million, or 21 cents per share,
in the first quarter ended May 2, from a loss of $59 million,
or 14 cents per share, a year earlier.
Excluding restructuring costs, its loss of 16 cents a share
was smaller than analysts' average forecast for a loss of 20
cents, according to Reuters Estimates.
Sales fell 9.5 percent to nearly $5.2 billion.
Department store chains have been among the sectors hit
hardest in the recession as U.S. consumers steadfastly stick to
shopping lists and spend only on essential items such as food
Last week Macy's posted a 9.1 percent decline in April
sales at stores open at least a year.
Macy's said it was prudent to leave its full-year forecast
unchanged, given the economic uncertainty. It still expects
earnings of 40 cents to 55 cents a share, excluding
consolidation costs, on a sales decline of 6 percent to 8
Macy's shares rose 1.6 percent to $12.55 in premarket
trading. They closed Tuesday at $12.35.
(Reporting by Aarthi Sivaraman, editing by Dave Zimmerman and