Macy's up after raising annual forecasts

** Shares of department store chain Macy's M up 6% at $14.38 premarket

** Co raises its annual sales and profit forecast, boosted by resilient demand at Bloomingdale's and Bluemercury as its turnaround plan takes shape

** Expects annual adjusted profit per share between $1.70 and $2.05, compared with prior target of between $1.60 and $2 per share

** Expects annual net sales between $21.15 billion and $21.45 billion, compared with its prior target of $21 billion to $21.4 billion

** Shares down about 20.3% YTD, as of last close