Macy’s posts higher third-quarter net, raises full-year outlook

NEW YORK ― Macy’s Inc. reported a higher third-quarter profit, helped by sales gains on its website and at its upscale Bloomingdale’s chain, and the retailer raised its profit forecast for the fiscal year.

Macy’s raised its profit per share forecast for the current year 10 cents to a range of $2.70 to $2.75, and expects $1.52 to $1.57 of that to come in the holiday quarter.

Macy’s, which also owns the upscale Bloomingdale’s chain, reported net income of $139 million, or 32 cents a share, for the quarter that ended Oct. 29, compared with $10 million, or 2 cents a share, a year earlier.

The department store operator reaffirmed its sales forecast and still expects same-store sales, or sales at stores open at least a year, to rise between 4 percent and 4.5 percent in the current holiday season quarter.