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.
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Posted In: NewsRetail SalesPre-Market OutlookConsumer DiscretionaryDepartment StoresSame-store sales
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