macy’s stock jumped in premarket trading thursday after the department store operator crushed expectations for july quarter earnings raised its fullyear outlook and reinstated its dividend macy’s ticker m reported an adjusted profit of 129 a share during the fiscal second quarter far ahead of expectations for 23 cents a share according to factset sales of 565 billion up 59 yearoveryear also beat estimates for 501 billion samestoresales jumped 612 crushing forecasts for 412 growth macy’s stock was up 79 to 1807 in premarket trading on thursday the stock has risen 60 in 2021 and 188 over the last12 months the company reinstated its quarterly dividend at 15 cents per share payable on oct 1 to shareholders at the close on sept 15 and the board also authorized a 500 million share repurchase program “second quarter results were strong across all three nameplates and surpassed our expectations” ceo jeff gennette said in the earnings release “our momentum in the first quarter accelerated in the second quarter as we successfully reengaged core customers and attracted new younger customers with new brands and categories” jefferies analyst stephanie wissink pointed out the brand added 5 million new customers up 30 from the second quarter of 2019 about 41 of those came through digital channels macy’s now expects fullyear sales between 2355 billion and 2395 billion up from a prior range that topped out at 2223 billion its outlook for adjusted earnings per share is now between 341 and 375 up from its prior range that topped out at 212 separately the company said it was partnering with whp global to open a toys”r”us shopwithinashop concept in more than 400 macy’s stores a landing page for the iconic toy store brand was also launched on the macy’s website