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Macy’s optimistic about omnichannel ahead of holidays
Macy’s tempered its full year sales forecast after solid second quarter results and growing optimism around omnichannel initiatives weren’t enough to offset a slow start to the year.
Macy’s said sales increased 3.3% to $6.267 billion and same store sales increased 4% during the second quarter ended August 2. Excluding sales in departments licensed to third parties same store sales increase 3.4%. Profits increased to $292 million, or 80 cents a share, from $281 million, or 72 cents a share.