Wednesday, Macy’s Inc. (NYSE:M) released mixed second-quarter 2024 earnings and lowered the annual guidance.
The fashion retailer reported second-quarter sales of $4.94 billion, down 3.8% year over year, missing the consensus of $5.12 billion.
The company reported adjusted EPS of $0.53, up from $0.26 a year ago and beating the consensus of $0.29.
In an interview with CNBC, CEO Tony Spring said customers aren’t spending as freely across all of Macy’s brands — even higher-end department store Bloomingdale’s.
Also Read: Why Is Department Store Chain Macy’s Stock Getting Battered Today?
“We see that there is definitely a softness, a carefulness, a delay in the conversion of purchasing,” he said. “And ...
