Macy's Reports 6.2% Rise In December Same-Store Sales, Lifts Q4 Profit Forecast

Macy's Inc M reported a 6.2% rise in its December same-store sales. Analysts were expecting same-store sales to increase 5%. Macy's total sales for the five weeks ended December 31 surged 6.6% to $4.93 billion. Macy's raised its Q4 profit forecast to $1.55 to $1.60 per share, versus its prior forecast of $1.52 to $1.57 per share. It also doubled its quarterly dividend to $0.20 per share. Macy's shares gained 0.31% to $32.75 in pre-market trading.