Macy’s
stock fell on Friday after the department store said fourth-quarter sales would come in at the low to middle end of its guidance, and warned that consumers will be pressured in 2023.
Macy’s (ticker:
M
) is now expecting net sales to be at the low end to the midpoint of its previously issued range from $8.16 billion to $8.4 billion. The earlier outlook dates to a Nov. 17 earnings call for its fiscal third quarter. Analysts surveyed by FactSet are forecasting sales to clock in at $8.3 billion for the quarter.
Source: https://www.barrons.com/articles/macys-stock-lowered-sales-guidance-51673043356?siteid=yhoof2&yptr=yahoo