Macy’s Q2 profit soars, ups outlook

Macy's net income surged in the second quarter as the chain saw a payoff from its focus on exclusive moderately priced fashions and tailoring its assortments to local markets. Based on strong revenue expectations, Macy's boosted its full-year profit forecast. The chain posted net income of $147 million for the period ended July 31, compared with $7 million in the same period last year. Revenue rose 7.2% to $5.54 billion. Same-store sales were up 4.9%.In recent months, Macy’s has emerged as a winner, particularly in the important battle for back-to-school consumers.“We believe our business is beginning to hit its