Macy's Ability To Achieve Revised Outlook Amid Weak Macro Environment Is Doubtful: Analyst

Macy’s, Inc. M shares are trading lower after the company reported a second-quarter revenue miss.The fashion retailer reported second-quarter sales of $4.94 billion, missing the consensus of$5.12 billion, and adjusted EPS of $0.53, exceeding the consensus of$0.29.The department store operator said it now anticipates 2024 net sales of $22.1 billion-$22.4 billion, which is lower than the $22.3 billion-$22.9 billion expected earlier and down from 2023 sales of $23.09 billion.Goldman Sachs analyst Brooke Roac ...