Macy's beats, raises sales outlook, profit view

NEW YORK(Reuters) - Macy's Inc reported better-than-expected earnings as its exclusive lines helped it win market share and its upscale Bloomingdale's chain benefited from a pickup in luxury spending. The retailer raised its full year sales and profit forecast, sending shares were up 1.5 percent in premarket trading. Macy's, based in Cincinnati, reported net income of $147 million, or 35 cents per share for its second quarter ended July 31, compared to $7 million, or 2 cents per share, a year earlier. Overall sales rose 7.2 percent to $5.54 billion,