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Macy’s Stock Surges on Profit Beat and Guidance Boost

Por: MarketWatch Business November 17, 2022

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Gross margin for the quarter was 38.7%, down from 41.0% in the third quarter of 2021, driven by an increase in promotional activity. Third-quarter comparable sales were down 3.1% on an owned basis and down 2.7% on an owned-plus-licensed basis. The consensus call was for same-store sales to fall 4.3%. “We know the consumer is under increasing pressure and has choices on where to spend. As a leading gifting destination with fresh inventory... + full article



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