Macy's Reports 6.7% Rise In June Same-Store Sales; Shares Gain In Pre-Market

Macy's Inc M reported a 6.7% rise in its June same-store sales and lifted its estimate of sales for the fiscal second quarter. Macy's total sales in June surged 7.5% to $2.39 billion from $2.23 billion. Analysts were expecting same-store sales to rise 5.1%. Macy's now projects Q2 same-store sales to rise 6%, up from its previous forecast of 5%. Macy's projects fiscal-year comparable sales to increase 4.8%, versus its previous estimate of 4.5%. Macy's shares gained 3.05% to $29.75 in pre-market trading. Read more from Benzinga's Company news.