Macy's Says Merchandise Inventories Were Up 1.7% YoY; Gross Margin 39.2%, Down From 40%
Portfolio Pulse from Benzinga Newsdesk
Macy's reported a 1.7% year-over-year increase in merchandise inventories and a gross margin of 39.2%, down from 40% in the previous period.
May 21, 2024 | 11:00 am
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Macy's reported a 1.7% increase in merchandise inventories year-over-year and a decrease in gross margin to 39.2% from 40%.
The increase in inventories suggests potential overstocking, which could lead to markdowns and impact profitability. The decrease in gross margin indicates higher costs or lower pricing power, both of which are negative indicators for short-term stock performance.
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