Macy’s Inc. (NYSE:M) reported better-than-expected second-quarter earnings and raised its fiscal outlook on Wednesday.
The retailer reported net sales of $4.81 billion for the quarter, down 2.5% year over year, beating the consensus of $4.76 billion and the management guidance of $4.65 billion-$4.75 billion. Macy’s reported adjusted earnings of 41 cents per share compared to the consensus of 18 cents and 53 cents a year ago, surpassing the management guidance of 15-20 cents per share.
