Macy's Inc raised its full-year profit forecast on Thursday, helped by strong demand for apparel from consumers returning to work and social events, even as red-hot inflation saps consumer spending power for discretionary products.
The company said it expects fiscal 2022 adjusted earnings per share of $4.53 to $4.95, compared with its previous forecast of $4.13 to $4.52.
Macy's shares jumped 15% after reporting quarterly results.
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