Reported about 2 months ago
Macy's has announced a 3.8% decline in quarterly sales, missing forecasts as it moves forward with its new turnaround strategy, opting to reject a $6.9 billion buyout offer. The company's net sales reached $4.9 billion while its same-store sales fell 4%. Despite adjusted earnings exceeding expectations, the outlook for the remainder of 2024 has been lowered, reflecting ongoing consumer pressure amidst rising costs.
Source: YAHOO