Department store icon Macy’s (NYSE:M) posted second quarter earnings today that beat analyst expectations.
Profits rose to $241 million, or $0.55 per share, from $147 million, or $0.35 per share, in last year’s second quarter.
Sales rose 7.3%, to $5.94 billion, on 6.4% growth in same-store sales.
Macy’s raised its full-year forecast as well, to earnings in a range of $2.60 to $2.65 per share, from a prior forecast of $2.40 to $2.45 per share.
Also today, clothing designer and retailer Polo Ralph Lauren (NYSE:RL) reported a gain in fiscal first quarter earnings, to $184.1 million, or $1.90 per share, up from $120.8 million, or $1.21 per share, in last year’s first quarter.
Net revenues rose 32%, to $1.5 billion. Results exceeded analyst expectations.
Polo said it expects full year revenues to increase at a high-teens-to-low 20% rate. Retail sales are expected to increase at a mid 20% rate in the second quarter.
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