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Macy’s raises full-year profit forecast -Breaking


© Reuters. FILEPHOTO: Protective masks were worn by people shopping at Macy’s Herald Square in New York City after COVID-19, a coronavirus-related disease, broke out in Manhattan Borough, New York City. It occurred on December 26, 2020. REUTERS/Jeenah Moon/File Photo

(Reuters] – Macy’s Inc. (NYSE 🙂 has raised its full year profit forecast for Thursday. The strong apparel market from returning workers and attending social events helped to offset the red-hot inflation that saps consumers’ discretionary product spending.

It expects that fiscal 2022 adjusted earnings per share will be $4.53 to 4.95, as opposed to its earlier forecast of $4.13 and $4.52.