Wednesday, January 8, 2020

Macy's eases holiday season sales worries, shares rise 6%

Macy’s Inc reported just a 0.6% drop in holiday period same-store sales on Wednesday, quelling fears of a more dramatic fall in the department store operator’s numbers for the crucial annual shopping season after an earlier profit warning.

Macy’s, which cut its annual profit forecast in November blaming weak international tourism and sluggish mall traffic, is among the first major corporate names to report sales for the holiday season - seen as a barometer for the health of U.S. consumer spending.. . . more