Macy's Sees 2024 Net Sales $22.1B-$22.4B (Prior Outlook $22.3B-$22.9B), Sees Comparable Owned-Plus-Licensed-Plus-Marketplace Sales Down 0.5-2% YoY
Portfolio Pulse from Benzinga Newsdesk
Macy's has revised its 2024 net sales outlook to $22.1B-$22.4B, down from the previous $22.3B-$22.9B. The company also expects a 0.5-2% year-over-year decline in comparable owned-plus-licensed-plus-marketplace sales.
August 21, 2024 | 10:58 am
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Macy's has lowered its 2024 net sales forecast and expects a decline in comparable sales, indicating potential challenges in the retail environment.
The downward revision in Macy's sales outlook and expected decline in comparable sales suggest potential difficulties in achieving growth, which could negatively impact investor sentiment and the stock price in the short term.
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IMPORTANCE 80
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