Nov 7 Macy's Inc on Wednesday reported a
higher third-quarter profit, helped by sales gains, and raised
its full-year profit outlook.
Macy's reported net income of $145 million, or 36 cents a
share, for the quarter ended Oct. 27, up 4.3 percent from $139
million, or 32 cents a share, a year earlier
Macy's, which also owns the upscale Bloomingdale's chain,
raised its full-year profit per share outlook by 5 cents and now
expects to earn between $3.35 and $3.40.
For the holiday quarter, when Macy's expects same-store
sales to rise 4.2 percent, Macy's expects to earn $1.94 a share
to $1.99 a share.
Third-quarter sales rose 3.8 percent to $6.08 billion. Sales
at stores open at least a year, a key industry metric known as
same-store sales, rose 3.7 percent.