Macy's Up Pre-Market On Strong Earnings (M)

Macy's, Inc. M is up in pre-market trading after the retailer reported better than expected earnings. Macy's reported earnings of 2 cents per share, far better than the 8 cent loss it reported a year ago. Excluding items, Macy's earned 8 cents, 5 cents better than estimates. Sales rose to $5.62 billion. Same-store sales climbed 3.9%. Macy's, reiterated its fourth-quarter outlook for same-store sales increasing 3% to 4%, and second-half outlook for earnings at $1.50-$1.55 per share. At last check, shares were up 27 cents to $25.49, a gain of 1%.