for2023 Tag

Macy’s Inc., despite the promotional-charged and competitive retail landscape, forecasts that its fourth-quarter sales and profits will fall inside its guidance issued last November. Nonetheless, after experiencing deeper-than-expected business lulls during nonpeak periods in December, sales could possibly be on the low end or middle of the guidance, the retailer disclosed Friday. Within the report, chairman and chief executive officer Jeff Gennette praised his team for operating with “precision and agility” because it managed through the difficult quarter, but in addition sounded a note of caution in regards to the yr ahead. “Based on current macroeconomic indicators and our proprietary bank card data, we consider the patron will proceed to be pressured in 2023, particularly in the primary half, and have planned inventory...