* Sees Q2 EPS $0.15-$0.17 vs. Wall St view $0.05
* July same-store sales down worse-than-expected 10.7 pct
* Shares up as much as 12 percent in early trading
CHICAGO, Aug 6 Macy's Inc (M.N) reported
worse-than-expected same-store sales in July, but forecast
second-quarter earnings roughly three times greater than
analysts were expecting, and shares jumped as much as 12
The Cincinnati-based department store operator said it
expects to report second-quarter profit of 15 to 17 cents per
share, excluding items. Analysts polled by Reuters Estimates
had, on average, expected 5 cents per share.
In the quarter ended Aug. 1, sales fell 9.7 percent to $5.2
billion, effectively meeting analyst estimates.
Same-store sales at Macy's fell 10.7 percent in July, worse
than the 9.1 percent decline analysts had expected.
Macy's shares rose 75 cents or 5.3 percent to $14.97 in
morning trade on the New York Stock Exchange. Earlier they
reached as high as $15.94.
(Reporting by Ian Sherr, editing by Gerald E. McCormick)