(Updated - August 10, 2017 8:03 AM EDT)

Macy's (NYSE: M) reported Q2 EPS of $0.48, $0.02 better than the analyst estimate of $0.46. Revenue for the quarter came in at $5.55 billion versus the consensus estimate of $5.52 billion.

Comparable sales on an owned basis were down 2.8 percent in the second quarter and down 2.5 percent on an owned plus licensed basis.

The company also reaffirmed its sales and earnings guidance for full-year 2017.

“Macy’s, Inc.’s results for the second quarter were in line with our expectations, and we are on track to meet 2017 sales and earnings guidance. We saw a notable contribution from the full execution of our new women’s shoe and jewelry models and the continued successful testing of Backstage in store. We are excited about plans for fall, including the launch of a new loyalty program and the new marketing strategy, which we anticipate will further improve our sales trend in the back half of the year,” said Jeff Gennette, Macy’s president and chief executive officer. “We are working with a mindset of continuous improvement and will adapt our business in order to reach our goal of stabilizing the brick-and-mortar business while investing for accelerated growth in digital and mobile. Key to this strategy is engaging our customers with an improved experience that includes more elevated and exclusive assortments, a better integration of technology both online and in the store, and additional enhancements intended to drive traffic and sales. There is still work ahead of us, however, I’m encouraged by the progress we’re making on overall performance.”

For earnings history and earnings-related data on Macy's (M) click here.