• Q3 net profit US$139m, versus $10m
  • Sales up 4.1% to $5.853bn
  • Same store sales up 4%

Department store retail group Macy’s posted a surge in third quarter net profit, boosted by a 39.8% increase in online sales and a 4% rise in same store sales.

The US company said both Macy’s and Bloomingdale’s had performed strongly in the three months ended 29 October.

Macy’s increased its full-year guidance, predicting same store sales up 4.8-5% and earnings per diluted share of $2.70-2.75.

“We continue to move forward in the execution of those strategies that have created a culture of growth at Macy’s – including My Macy’s localisation of our assortments and shopping experience; omnichannel integration across stores, online and mobile; and MAGIC Selling and associate coaching programmes to strengthen customer engagement,” said Terry Lundgren, Macy’s chairman, president and CEO.