Macy's posts another quarter of falling sales as it unveils strategy to get back to growth
Publishing timestamp: 2024-02-27 11:49:51
Summary
Macy's reported a nearly 2% sales decline in the holiday quarter and forecasted another year of stagnant sales. The company plans to close some Macy's stores, open more Bloomingdale's and Bluemercury stores, and focus on selling luxury goods. The new CEO, Tony Spring, aims to improve the company's performance and restore investor confidence.
Sentiment: MIXED
Tickers: M,
Keywords: breaking news: earnings, earnings, business news, business, breaking news: business, macy's inc, retail industry,
Source: https://www.cnbc.com/2024/02/27/macys-m-q4-2023-earnings-.html