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Macy’s earnings bode well for holiday shopping season

November 15, 2018

Macy’s is pretty optimistic about this year's holiday shopping season given that it has increased its annual earnings forecast.

Citing a redesigned loyalty program, and growing e-commerce activity, the retailer has bumped up its initial forecast of $3.95 to $4.15 adjusted earnings per share to $4.10 to $4.30, according to a New York Post report.

The retailer reported higher profit in Q3, which it attributed to double-digit improvement with online shopping.

"We have the right merchandise, the right marketing and the right customer experiences in place to deliver a strong fourth quarter," CEO Jeff Gennette said in a statement.