The Macy’s company logo is seen at the Macy’s store on Herald Square on January 19, 2024 in New York City. Macy’s department-store chain announced that they will be laying off roughly 2,350 employees which is about 3.5% of their workforce. The company says that it will also be closing five stores in order to adjust to the online-shopping era. (Photo by Michael M. Santiago/Getty Images)
Michael M. Santiago | Getty Images News | Getty Images
Macy’s fiscal first-quarter earnings topped Wall Street’s expectations on Tuesday, and the retailer’s revenue came in roughly in line with revenue expectations as it pointed to early signs of momentum in its turnaround strategy.
The department store operator raised its full-year earnings expectations to reflect the first-quarter beat, along with the low end of its sales outlook. But the retailer said in a news release that it “assumes customers will continue to be discerning in their discretionary purchases.”
The company’s share rose more than 2% in…
2024-05-21 08:51:49
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