Macy’s Inc. posted second-quarter earnings per share ahead of Wall Street analyst expectations, but the department store giant cut its full-year guidance.

Net income for the period ended Aug. 4 fell to $74 million, or 16 cents a share, from $317 million, or 57 cents, in the prior-year period on flat sales of $5.9 billion. Excluding May Company merger costs, Macy’s said EPS were 29 cents. Analysts had the company pegged to earn 26 cents, according to Yahoo Finance.

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