Macy’s boosts 2018 sales outlook after strong first half

The company posted a profit of $166 million for the period, up from $111 million a year ago. Same-store sales were flat with the year-ago comparable quarter.  

A combination of healthy stores, robust e-commerce and a positive mobile experience is Macy's recipe for success, said CEO Jeff Gennette in prepared remarks. "Macy's, Bloomingdale's and Bluemercury all performed well," Gennette said. "It is encouraging to see the continued strengthening of our brick-and-mortar business where we saw trend improvements across the portfolio."

The company's initiatives include the remodeling of about 50 stores to include food and upgraded fixtures, and the addition of 45 Macy's Backstage off-price, store-within-a-store boutiques in 2017.

The updated 2018 outlook is for total sales to be flat or to edge up by about 0.7 percent, slightly better than the company's previous outlook of a 1 percent decline to a 0.5 percent increase. Expectations for same-store sales, meanwhile, are now for an increase of 2.1 percent to 2.5 percent, better than the previous forecast of 1 to 2 percent growth rate.