Macys Cuts Full-Year Forecast as Earnings Jump 30%

Macy's reported its third-quarter earnings, surpassing estimates but cutting future forecasts. Despite a 1.4% decline in comparable sales, the company maintained its gross margin, which was unexpected given the aggressive discounting in the retail sector. Earnings per share were 61 cents, beating the 50-cent estimate. However, Macy's revised its full-year earnings forecast downwards, citing potential challenges in the fourth quarter. The company expressed optimism for the upcoming quarter, raising questions about the reasons behind the forecast cut.

What is the new earnings per share forecast for Macy's for the full year?

What optimism did Terry Lundgren express regarding the fourth quarter?