Macy’s to have Toys R Us shops in more than 400 stores starting next year

National

(AP modified) — Macy’s announced Thursday it will have Toys R Us shops in more than 400 stores rolling out in 2022 as part of a partnership with the iconic brand’s owner WHP Global.

It’s not clear if any western New York stores are included in this.

Macy’s reported earnings of $345 million, or $1.08 per share in the three-month period ended July 31. Adjusted earnings were $1.29 per share, far above the 23 cents industry analysts had expected, according to FactSet.

Last year, Macy’s lost $431 million in the second quarter.

Revenue rose nearly 60% to $5.64 billion, better than the $5.01 billion Wall Street projected and better than last year’s $3.56 billion.

Macy’s said that it expects net sales for the year to be in the range of $23.5 billion to $23.95 billion. Its previous guidance was $21.73 billion to $22.23 billion. Industry analysts were expecting $22.09 billion. It also now expects adjusted earnings per share to be in the range of $3.41 to $3.75 per share, compared with previous projections of $1.71 to $2.12 per share.

The company also reinstated its quarterly dividend.

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