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Macy's fiscal Q2 profit climbs 7.5% YOY

Macy's Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 was 81 cents per share, compared with the S&P Capital IQ consensus estimate of 86 cents per share.

EPS increased 14.6% year over year from 70 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $294.4 million, a gain of 7.5% from $273.8 million in the prior-year period.

The normalized profit margin climbed to 4.7% from 4.5% in the year-earlier period.

Total revenue climbed on an annual basis to $6.27 billion from $6.07 billion, and total operating expenses increased from the prior-year period to $5.70 billion from $5.53 billion.

Reported net income grew on an annual basis to $292.3 million, or 80 cents per share, from $280.3 million, or 72 cents per share.