Macy's Inc. raised its full-year revenue and adjusted earnings guidance as its turnaround strategy gains momentum. The retailer reported a 1.9% increase in same-store sales, marking a positive shift from previous declines.
Management attributed the progress to optimizing its physical store footprint to better align with current shopping habits. The company's board also declared a regular quarterly dividend of $0.1915 per share.
Investors responded favorably to the improved outlook and sales growth. These developments suggest the plan to reshape the store base is stabilizing the business and yielding tangible financial benefits.