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Bellwether retailer's prediction provides holiday guidance.
November 10, 2010
By: TOM BRANNA
Editor
Thanksgiving in the U.S. is still weeks away, but recent comments from Macy’s Inc., a bellwether retailer here in the States, is providing some guidance on how the holiday selling season will play out. The company said it expects same-store sales in the fourth quarter to be up 3 to 4 percent, and based on stronger sales expectations, Macy’s increased earnings guidance for the second half of 2010 to $1.50 to $1.55 a diluted share, compared with previous guidance in August of $1.45 to $1.50. Full year earnings per share guidance is $1.94 to $1.99, compared with an earlier forecast of between $1.89 to $1.94.
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