Macy's posts higher profit, raises earnings forecast

Macy's Inc reported a higher-than-expected second-quarter profit on Wednesday, helped by cost controls and strong sales in July, and the department store chain raised its full-year profit forecast. Macy's at Herald Square, New York / Photo: Corbis Macy's shares were up 3.2 percent to $38.20 in premarket trading. As previously reported, second-quarter sales rose 3 percent to $6.12 billion. Sales at stores open at least a year, a key industry metric known as same-store sales, also rose 3

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