Macy's on Tuesday said it foresees earnings for 2014 coming in higher than it previously projected as the retail giant laid out plans to purchase beauty products maker Bluemercury for $210 million in cash.
Bluemercury operates about 60 stores in 18 states in the United States, most of which also have in-house spas.
Macy's said Bluemercury would operate as a stand-alone business and would continue to be led by Marla and Barry Beck, who co-founded it in 1999.
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Macy's now sees full-year 2014 earnings of between $4.35 and $4.37 per diluted share, higher than the previous range $4.25 to $4.35 per diluted share.
The retailer said comparable-store sales at existing locations rose 2.5 percent in the fourth quarter as more people visited them during the holiday season. Full-year 2014 comp-store sales increased 1.4 percent.