Macy’s flagship retailer in Herald Square in New York, Dec. 23, 2021.
Scott Mlyn | CNBC
Macy’s on Friday warned its holiday-quarter gross sales will are available on the lighter facet, saying customers’ budgets are underneath strain and that it anticipates that squeeze to proceed into this yr.
The division retailer operator stated web gross sales at the moment are anticipated to be on the low- to mid-point of its beforehand anticipated vary of $8.16 billion to $8.4 billion. It expects adjusted diluted earnings per share to be within the beforehand issued vary of $1.47 to $1.67.
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For the year-ago interval, Macy’s reported income of $8.67 billion and adjusted earnings per share of $2.45.
Shares of the corporate fell greater than 4% in aftermarket buying and selling Friday.
Macy’s is the newest retailer to supply clues in regards to the client, as traders await vacation outcomes and search for indicators of whether or not demand is holding up as inflation stays excessive.
CEO Jeff Gennette stated Macy’s put up robust Black Friday and Cyber Monday gross sales…
2023-01-06 17:13:31 Macy’s warns holiday-quarter gross sales will are available mild
Article from www.cnbc.com