Macy’s Inc. shares rose after the company forecast stronger-than-expected sales in the current quarter, a sign that its fiscal year is off to a solid start as middle- and higher-income households continue to spend.
The department-store operator expects net sales as high as $4.63 billion in the first quarter, above the average estimate of analysts compiled by Bloomberg. Comparable sales, which measures revenue from stores that have been open at least a year and from online, will increase as much as 1.5% in the period, also above estimates.
“We see a resilient consumer that continues to shop for newness and ...
