What's Going On With Macy's Stock?
Portfolio Pulse from Henry Khederian
Macy's Inc (NYSE:M) shares are trading lower by 2.5% to $19.25 due to mixed economic data and worse-than-expected first-quarter results from peer retail company Kohl’s Corp (NYSE:KSS). Kohl’s reported a 26.6% drop in shares after missing earnings estimates and revising its outlook downward.
May 30, 2024 | 4:37 pm
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NEGATIVE IMPACT
Kohl’s shares plummeted by 26.6% after reporting worse-than-expected Q1 earnings and revising its outlook downward.
Kohl’s significant drop in share price is directly due to its poor Q1 earnings report and downward revision of its outlook, indicating severe investor disappointment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Macy's shares are down 2.5% to $19.25 due to mixed economic data and Kohl’s disappointing Q1 results.
Macy's stock is negatively impacted by the broader retail sector's performance, particularly Kohl’s poor earnings report, which signals potential challenges in the retail market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80