Macy’s slashes sales outlook as iconic retailer struggles to lure …

Aug 21, 2024 · Macy’s slashed its annual sales forecast on disappointing second quarter earnings as the iconic department store struggles to win over inflation-battered customers. Macy’s …

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Macy's Lowers Outlook For Q4 - Axios

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2 days ago · Macy's lowered its sales outlook for the fourth quarter to at or below the low end of its previously guided range of between $7.8 billion and $8 billion, it said Monday.. Why it …

axios.com

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Macy's Cuts Annual Profit View As Weak Demand Overshadows …

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Dec 11, 2024 · By Juveria Tabassum (Reuters) -Macy's on Wednesday cut its annual profit forecast, sending shares down 10% as weak demand at its nameplate stores and heavy …

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Macy’s Cut Its Full-year Outlook After A Tough Quarter - Retail Brew

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Jun 5, 2023 · Macy’s is now anticipating full-year sales of $22.8 billion to $23.2 billion, down from its previous expectation of $23.7 billion to $24.2 billion. CEO Jeff Gennette said demand …

retailbrew.com

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Macy’s Sales Slide As Retailer Issues ‘Cautious' 2023 Outlook

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Aug 23, 2023 · Because of that and the results year-to-date, Macy’s reaffirmed its “cautious” full-year outlook of adjusted earnings per share of $2.70 to $3.20 on net sales of $22.8 billion to …

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Retail: Macy's Outlook Dims - Axios

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3 days ago · Macy's lowered its sales outlook for the fourth quarter to at or below the low end of its previously guided range of between $7.8 billion and $8 billion, it said today.. Why it matters: …

axios.com

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Macy’s Slashes Outlook After Weak Q1 | Retail Dive

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Jun 1, 2023 · Retail industry news, voices and jobs. ... Macy’s slashes outlook after weak Q1 Published June 1, 2023 ... Macy’s Q1 net sales fell 6.8% year over year to $5 billion, with brick …

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Macy’s Struggles And Its Bold New Chapter - PYMNTS.com

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Dec 10, 2024 · Macy’s preliminary third-quarter results revealed overall net sales down 2.4% to $4.742 billion, primarily due to weaknesses in non-First 50 locations and digital sales. But its …

pymnts.com

FAQs about Macy’s slashes sales outlook as iconic retailer struggles to lure … Coupon?

Why did Macy's slash its outlook?

(AP Photo/Wilfredo Lee) NEW YORK (AP) — Macy’s slashed its outlook for the entire year as sales weakened in the first quarter during an increasingly challenging economic environment, including stubbornly high inflation. Sales began to flag in March, forcing the New York department store to cut prices on clothes and other discretionary items. ...

Why did Macy's slash its annual sales forecast?

Macy’s slashed its annual sales forecast on disappointing second quarter earnings as the iconic department store struggles to win over inflation-battered customers. Macy’s shares plunged 13% to $15.45 on Wednesday. ...

Why did Macy's stock fall 13%?

Macy’s shares plunged 13% to $15.45 on Wednesday. The retailer has been forced to cut prices and offer more promotions on its mid- to high-end goods to compete with affordable rivals — but it still lost out on sales. Macy’s lowered its annual sales forecast on Wednesday after revealing disappointing second quarter earnings. REUTERS ...

Why did Macy's cut its profit outlook?

In December, Macy’s cut its profit outlook significantly as a result of an investigation into the financial impact of an employee who hid expenses over several years. The company said at the time that most of the impact of the hidden delivery expenses would be recorded in the fourth quarter. ...

How much did Macy's sales increase in a year?

However, projected annual sales were increased slightly to $22.3 billion to $22.5 billion, reflecting cautious optimism. Macy's CEO Tony Spring, who took the helm in February, is driving a transformation strategy. The plan includes closing 150 underperforming stores while upgrading 350 others. ...

Why did Macy's stock fall 10 percent in pre-market trading?

Macy's financial woes continue with the company reporting a notable dip in third-quarter profits and sales, reflecting a consumer trend toward prioritizing essentials like groceries over discretionary spending. The announcement, made Wednesday, sent the retailer's shares tumbling by 10 percent in pre-market trading. ...