Reported about 5 hours ago
Macy's has projected its 2025 sales and profit to be below Wall Street expectations, reflecting a broader trend among U.S. retailers as consumers hesitate to spend amid economic uncertainty. The company anticipates net sales of $21 billion to $21.4 billion, lower than the analyst average of $21.81 billion, and adjusted profit per share of $2.05 to $2.25, below the $2.31 estimate. Macy's also plans to close 150 stores by 2026 and focus on expanding its more profitable luxury divisions.
Source: YAHOO