Macy’s posts bigger-than-expected quarterly sales drop on sluggish demand

By Reuters Published May 21, 2024 Macy’s posted a bigger-than-expected drop in first-quarter sales on Tuesday, hobbled by stiff competition from off-price retailers for shoppers increasingly cautious about spending on products such as apparel and footwear. Reuters The upscale department store operator’s net sales fell 2.7% to $4.85 billion. Analysts on average had expected sales [...]read moreMacy’s posts bigger-than-expected quarterly sales drop on sluggish demand