Macy's Q1 Bloomingdale's Comparable Sales -3.9% Y/Y On Owned Basis, -4.3% Y/Y On Oowned-Plus-Licensed Basis
Portfolio Pulse from Benzinga Newsdesk
Macy's reported Q1 Bloomingdale's comparable sales down 3.9% Y/Y on an owned basis and down 4.3% Y/Y on an owned-plus-licensed basis. The brand had 4.1 million active customers and saw strength in beauty, fragrances, contemporary apparel, housewares, and outlet locations.
June 01, 2023 | 11:01 am
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Macy's Q1 Bloomingdale's sales decline may negatively impact the company's stock price in the short term.
The decline in Bloomingdale's comparable sales indicates a weaker performance for the brand, which is owned by Macy's. This may lead to a negative impact on Macy's stock price in the short term as investors react to the news.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100