macys inc m share rose 36 in premarket trade tuesday after the company posted betterthanexpected earnings for the second quarter although it lowered its fullyear guidance to reflect a difficult spending environment and high levels of inventory the department store chain posted net income of 275 million or 99 cents a share in the quarter down from 345 million or 108 a share in the yearearlier period adjusted pershare earnings came to 100 ahead of the 86 cent factset consensus sales edged down to 5600 billion from 5647 billion a year ago but were also ahead of the 5490 billion factset consensus samestore sales fell 16 compared with a factset consensus for a drop of 20 the company cut guidance to reflect the risk it sees in the continued deterioration of consumer discretionary spending in some of its categories and the level of inventory within the industry as well as risks associated with a more pronounced macro downturn its now expecting fullyear sales of 24340 billion to 24580 billion compared with a may forecast of 24460 billion to 24700 billion it expects adjusted eps of 400 to 420 down from may guidance of 453 to 495 shares have fallen 29 in the year to date while the sp 500 spx has fallen 13