Saying it is benefiting from an improved economy as well as its own efforts to improve business, Macy’s Inc. (M) significantly raised its full-year earnings projection and estimate for same-store sales growth. The retailer also issued first-quarter guidance.
“I know it’s early to say, but I think we have gained market share,” said Chief Financial Officer Karen Hoguet.
The comments came at a day-long analyst meeting Macy’s is holding Tuesday in its Herald Square flagship store.
Hoguet said Macy’s expects to post earnings per share this year of $1.75 to $ 1.80, up from initial guidance of $1.55 to $1.60. Comparable-store sales, a key measure of customer demand, are now projected…
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