Macy's, Inc. (M: Quote) said its net income for the second quarter rose to $279 million or $0.67 per share from $241 million or $0.55 per share in the year-ago quarter.
On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the three-month period advanced year-over-year to $6.12 billion from $5.94 billion. Analysts anticipated revenues of $6.10 billion for the quarter.
Looking forward, the company lifted its earnings guidance for full-year 2012 to a range of $3.30 to $3.35 per share, compared with previous guidance for earnings per share of $3.25 to $3.30. Guidance for same-store sales in fiscal 2012 remains unchanged at an increase of approximately 3.7 percent.
Analysts expect the company to earn $3.36 per share for the year.
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by RTT Staff Writer
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