(Reuters) – Macy's Inc reported a higher-than-expected second-quarter profit on Wednesday, helped by cost controls and strong sales in July, and the department store chain raised its full-year profit forecast. Macy's shares were up 3.2 percent to $38.20 in premarket trading. As previously reported, second-quarter sales rose 3 percent to $6.12 billion. Sales at stores open at least a year, a key industry metric known as same-store sales, also rose 3 percent. Same-store sales were below the retailer's forecast for a 3.5 percent jump. …
Originally posted here: Macy’s posts higher profit, raises earnings forecast
