Macy's Lowers Yearly Sales Forecast Amid Cautious Consumer Spending and Mixed Q2 Results

Benzinga
Benzinga
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Macy's cut its full-year sales forecast due to cautious consumer spending and increased promotions. The retailer's fiscal second-quarter results were mixed, with earnings surpassing expectations but revenue falling short. Macy's has lowered its anticipated net sales forecast for the year. The company continues to struggle with weak sales, especially at its namesake stores. Macy's stock has declined about 12% this year, underperforming the S&P 500.
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