Macy's Raises Outlook As Bloomingdale's And Bluemercury Outshine Core Brand

Macy's Inc. (NYSE:M) stock surged on Wednesday after the fashion department chain reported better-than-expected second-quarter earnings and raised its fiscal outlook.

M stock is racing ahead of the pack. Get the inside scoop here.v

The retailer reported net sales of $4.81 billion for the quarter, down 2.5% year over year, beating the consensus of $4.76 billion and the management guidance of $4.65 billion-$4.75 billion.

Comparable sales up 0.8% on an owned basis and up 1.9% on a comparable owned-plus-licensed-plus-marketplace (O+L+M) basis, above the company’s guidance, benefiting from positive comparable sales across nameplates.

“Our teams achieved better than expected top- and bottom-line results during the second quarter, driven by our strongest comparable sales growth ...