Macy's Retail Localization

Macy’s 2nd-Quarter Net Up 16% on Strong Revenue

The details:

–Second-quarter profit up 16%

–Raises full-year earnings guidance

–Localized product offerings, exclusive brands resonate

Macy's Retail Localization

Macy’s Inc.’s (M) fiscal second-quarter profit surged 16%, with the department store seeing revenue, and particularly online sales, rise as its localized product offerings and raft of exclusive brands resonated with customers.

The retailer raised its full-year earnings guidance by a nickel to $3.30 to $3.35 a share.

The second-quarter results, coming on top of solid performances in the prior two second quarters, indicate “that our business continues to have forward momentum, even with challenges that include a soft economy, lower spending by international tourists,”

[via Wall Street Journal]

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