Macy's, Inc. (M) has been taking prudent steps to increase sales, profitability and cash flows, which include integration of operations, consolidation of divisions and customer-centric localization initiatives. To help drive traffic, Macy's continues to focus on price optimization, inventory management and merchandise planning.
These helped the company to deliver better-than-expected second-quarter 2011 results. The quarterly
earnings of $0.55 per share beat the Zacks Consensus Estimate of $0.47, and jumped 57.1% from the prior-year quarter.
Following this management raised its outlook. Macy's now expects fiscal 2011 earnings between $2.60 and $2.65 per share. The company hinted that it is also seeking to expand both the Macy's and Bloomingdale's brands.
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