Aug 19 (Reuters) - Macy's Inc (M.N) raised its full-year sales and profit forecasts on Thursday, as vaccinations encourage more U.S. shoppers to return to its department stores to buy apparel and footwear.
Shares rose 7% in premarket trading, as the company also said it would restart paying dividends.
Sales of perfumes, shoes, dresses and formal wear have bounced back in recent months as people return to social events and occasions, fueling a 62.2% jump in comparable sales at Macy's owned and licensed stores in the second quarter.
Analysts had expected a 41.1% rise, according to IBES data from Refinitiv.
The back-to-school shopping season, which runs from mid-July through early-September, is also expected to be boost Macy's sales following a year when students were more mostly confined to home computer screens.
