Pursuits
Macy’s Projects Earnings Higher Than Analysts’ Estimates
This article is for subscribers only.
Macy’s Inc., the second-largest U.S. department-store chain, rose after forecasting annual profit that was higher than analysts’ estimates amid a surge in online sales.
The shares advanced 2.8 percent to $39.59 at the close in New York. They’ve gained 1.5 percent this year, compared with a 6 percent gain for the Standard & Poor’s 500 Retailing Index.