8/2/2023 0 Comments Tally 7.2 free download![]() In addition to the aforesaid headwinds, inflationary pressures and changing consumer behavior have been weighing on the company’s performance. These estimates show corresponding decreases of 6% and 31.9% from the year-ago period’s figures. For fiscal 2023, the Zacks Consensus Estimate for Macy's sales and earnings per share (EPS) is currently pegged at $22.97 billion and $3.05, respectively. ![]() Management is taking a cautious approach for the rest of fiscal 2023 and thus has trimmed the annual sales and earnings view.ĭriven by these limitations, shares of this Zacks Rank #4 (Sell) have plunged 25.2% in the year-to-date period, wider than the industry’s 13.8% decline. The company has posted soft first-quarter fiscal 2023 results, wherein both the top and bottom lines declined year over year, and comparable sales fell on an owned basis and an owned-plus-licensed basis. ![]() Macroeconomic pressures, waning consumer confidence and a pullback in spending activity have hit the retailers, and Macy’s is not immune to the same. M has been a weak performer for a while now, due to multiple headwinds that are hurting the company’s performance. ![]()
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