Macy's Inc Reaffirms FY 2011 EPS Guidance; Reaffirms FY, Q4 2011 Same-store Sales Guidance; Issues Q4 2011 EPS Guidance

Macy's Inc announced that it continues to expect same-store sales in the fourth quarter of 2011 to be up 4% to 4.5%. This translates to same-store sales for the second half of 2011 to be up 4.0% to 4.3%, and fiscal 2011 same-store sales to be up between 4.8% and 5.0%. This compares with guidance provided at the beginning of fiscal 2011 same-store sales to be up by approximately 3%. The Company has increased fiscal 2011 earnings guidance to $2.70 to $2.75 per diluted share, including fourth quarter earnings guidance of $1.52 to $1.57 per diluted share. Previous 2011 full-year guidance was for earnings of $2.60 to $2.65 per share.