Macy’s cuts sales forecast as department stores struggle to draw shoppers
Publishing timestamp: 2024-08-21 16:04:45
Summary
Macy's beat earnings expectations but cut sales forecast for full year due to selective shoppers and promotions. Company is trying to turn around business by closing stores and investing in better-performing brands like Bluemercury. Stock closed nearly 13% lower.
Sentiment: MIXED
Tickers: M,
Keywords: breaking news: business, business news, retail industry, earnings, macy's inc, breaking news: earnings, business,
Source: https://www.cnbc.com/2024/08/21/macys-m-q2-2024-earnings.html