The retailer raised its full year sales and profit forecast, sending shares were up 1.5 percent in premarket trading.
Macy's, based in Cincinnati, reported net income of $147 million, or 35 cents per share for its second quarter ended July 31, compared to $7 million, or 2 cents per share, a year earlier.
Overall sales rose 7.2 percent to $5.54 billion, while same-store sales, or sales at stores open at least a year, rose 4.9 percent.
Analysts had been expecting a profit of 29 cents per share on sales of $5.5 billion, according to Thomson Reuters I/B/E/S.
Citing better-than-expected sales trends, Macy's raised its full year 2010 same-store sales growth forecast to a range of 4 percent to 4.2 percent, compared with its previous forecast of 3 percent to 3.5 percent.
It also raised its full year profit forecast to a range of $1.85 to $1.90, compared to Wall Street's average forecast of $1.87 per share. Macy's previous forecast was $1.75 to 1.80.
(Reporting by Phil Wahba; Editing by Derek Caney)