Macys Lifts Annual Forecasts on Luxury Growth
Macys raised its annual forecasts as luxury chains Bloomingdales and Bluemercury thrived. However, ongoing turnaround costs caused shares to dip following a wider-than-expected loss forecast.
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Macy's raised its full-year guidance on Thursday morning after reporting a second-quarter sales rise of 1.1% to $4.87 billion, topping the $4.83 billion consensus. The department store operator is seeing strong demand from affluent shoppers at upscale chains like Bloomingdale's.
