Macy’s feels good about the future, particularly after a strong second quarter overcoming economic headwinds and disruptive renovations at its Herald Square flagship here.
On Wednesday, Macy’s Inc. reported that net income in the quarter ended July 28 rose 16 percent to $279 million from $241 million, marking the retailer’s 10th-straight quarterly gain. As a result, the retailer raised its earnings guidance for 2012 to a range of $3.30 to $3.35 a diluted share, compared with previous guidance of $3.25 to $3.30. However, Macy’s kept its forecast for same-store sales in fiscal 2012 unchanged at about 3.7 percent ahead.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)