Macy's easily beat Wall Street's earnings estimates and raised its guidance as it said revamped stores saw better sales trends.
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Macy’s
posted second-quarter earnings Wednesday that easily topped Wall Street’s expectations, as it said revamped stores helped sales trends.
The department store operator also raised its full-year earnings and sales guidance. It now expects adjusted earnings of between $1.70 and $2.05 per share, compared with $1.60 to $2 per share, and revenue between $21.15 billion and $21.45 billion, compared with $21 billion to $21.4 billion.
The stock was up 10% before the bell.
Macy's has seen signs of momentum as it invests in more staffing and sharper visual displays at its namesake department stores.
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