India, Sept. 3 -- Omni-channel fashion retailer Macy's, Inc. (M) reported Wednesday lower profit in its second quarter with weak net sales. However, adjusted earnings and top line beat market estimates, driven by higher comparable sales. Further, the firm raised fiscal 2025 outlook.
In the pre-market activity, Macy's shares were gaining around 12.3 percent to trade at $15.15.
Looking ahead to fiscal 2025, the company now projects adjusted earnings in a range of $1.70 to $2.05, higher than the prior guidance range of $1.60 to $2.00 per share.
The company now projects net sales between $21.15 billion and $21.45 billion, higher than the $21.0 billion and $21.4 billion expected earlier.
The Wall Street analysts on average expect the company...