Macy’s increases FY guidance after Q2 profit surge.
Macy’s Inc. celebrated its best second quarter in over 10 years, with net profit soaring by 64% and comparable store sales rising 6.4%.
Egytex News Desk
Source: www.mrketplace.com
Online sales from the company’s Macys.com and Bloomingdales.com websites were up 40.2% in the three months to July 30, the retailer said.
Macy’s now expects full-year same-store sales to be up by 4.8-5.1%, with earnings per share reaching $2.60-2.65, the company’s second guidance increase this year.
“This was our most successful second quarter and spring season in more than a decade,” said Terry Lundgren, company chairman, president and CEO.
“We have moved quickly to establish a culture of growth at Macy’s since reorganizing the company in 2008 and 2009, and yet we feel we are just beginning to take advantage of the benefits we envision.”
Source: www.mrketplace.com
From the Egytex news archive, first published on 17 August 2011. Figures and names are as reported at the time.
