Macy's beats expectations, raises guidance and announces new share repurchase program

Macy's Inc. shares jumped 3.2% in Thursday premarket trading after the department store retailer reported second-quarter earnings that beat expectations and raised its full-year guidance. Net income totaled $345 million, or $1.08 per share, after a loss of $431 million, or $1.39 per share. Adjusted EPS of $1.29 blew past the FactSet consensus for 23 cents. Sales of $5.647 billion were up from $3.559 billion and also beat the FactSet consensus for $5.011 billion. Comparable sales on an owned...