Macy’s said it expects to post earnings for the full year of $3.35 to $3.40 per share. This is the second time Macy’s has raised its profit guidance. In August, it had upgraded its earnings projections to $3.30 to 3.35, from an earlier projection of $3.25 per share to $3.30 per share.
Analysts expected $3.39 per share for the year.
For the fourth quarter, Macy’s said it expects to earn anywhere from $1.94 to $1.99 per share. Analysts expected $2.05 per share.
Macy’s said last week that revenue at stores open at least a year should rise 4 percent in the second half of the year, up slightly from prior guidance of a 3.7 percent increase. It expects the figure to climb 4.2 percent in the fourth quarter.
Shares fell 93 cents, or 2.3 percent, to close at $40.45 Wednesday. They are near their 52-week high of $42.17 set in early May.