Macy's Q2 Earnings: Revenue Miss, Points To 'Challenging' Environment, Cuts 2024 Forecast
Portfolio Pulse from Vandana Singh
Macy's Inc. reported mixed Q2 2024 earnings with a revenue miss and lowered its annual guidance due to a challenging consumer environment. Sales were down 3.8% year-over-year, and the company plans to close more stores than previously estimated. Macy's stock fell 8.62% in premarket trading.
August 21, 2024 | 12:45 pm
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Macy's reported a revenue miss in Q2 2024 and lowered its annual guidance, citing a challenging consumer environment. Sales were down 3.8% YoY, and the company plans to close more stores than previously estimated. Macy's stock fell 8.62% in premarket trading.
Macy's missed revenue expectations and lowered its annual guidance, indicating a challenging consumer environment. The company's decision to close more stores and the significant drop in stock price suggest negative short-term impacts.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100