Macy's Q1 Comparable Sales -7.9% Y/Y On Owned Basis, -7.2% Y/Y On Oowned-Plus-Licensed Basis
Portfolio Pulse from Benzinga Newsdesk
Macy's Q1 comparable sales were down 7.9% Y/Y on an owned basis and 7.2% Y/Y on an owned-plus-licensed basis. The company saw strength in beauty, fragrances, men's tailored, women's career sportswear, and off-price with Backstage.
June 01, 2023 | 10:58 am
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NEGATIVE IMPACT
Macy's Q1 comparable sales decline, with strength in specific categories such as beauty, fragrances, men's tailored, women's career sportswear, and off-price with Backstage.
Macy's Q1 comparable sales decline indicates a negative short-term impact on the stock price. However, the strength in specific categories may help mitigate the decline and potentially attract investors interested in those segments.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100