Macys Lifts Forecast Says Every Week Was Good In First Quarter

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– Macy’s Inc raised its full-year profit forecast on Wednesday and reported better-than-expected quarterly and same-store sales, helped by strong international tourism spending, a new loyalty program and a greater assortment of products offered in stores.

The U.S. department store chain also issued comparable sales growth guidance that topped estimates, boosting its shares 10 percent to $32.92 by midday.

“Tax cuts, bonuses and good tax refunds have all been a windfall to consumers who have responded by increasing spending,” said Neil Saunders, managing director of GlobalData Retail. “This rising tide has floated most retail boats, Macy’s among them.”




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