Macy's Q2 Gross Margin Rate 38.1%, Down From 38.9% YoY
Portfolio Pulse from Benzinga Newsdesk
Macy's has reported a decrease in its Q2 gross margin rate, which is now 38.1%, down from 38.9% year-over-year.
August 22, 2023 | 10:56 am
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Macy's Q2 gross margin rate has decreased to 38.1% from 38.9% YoY, which could negatively impact the company's profitability.
Gross margin is a key profitability metric for a company. A decrease in gross margin rate indicates that Macy's is making less profit on each dollar of sales compared to the previous year. This could potentially lead to a decrease in the company's overall profitability, which may negatively impact the stock price.
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