Macy’s sales rose 13.5% to $5.35 billion from $4.71 billion. The company also raised its annual earnings outlook, pushing shares higher in premarket trading. Like other retailers, Macy’s faces rising costs for everything from labor to shipping. Last week, Target reported that its profit tumbled 52% from last year amid rising costs and also a lightening quick return by consumers to more normalized spending. Macy’s said that it earned $286 million, or 98 cents per share, for the three-month period ended April 30. The company’s shares rose $2.90, or a little over 15% to $22.11 in pre-market trading. The figure includes business from licensed owned . . .
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