Macy's Q4 Earnings Beat Estimates, Revenue $8.12B, Plans to Close 150 Stores, Investing in Luxury
Macy's reports Q4 earnings exceeding estimates with adjusted EPS at $2.45 (est $1.99) and revenue of $8.12B (est $8.11B). The company plans to close 150 underperforming locations by 2026. Despite falling sales, Macy's aims to boost growth by investing in high-end luxury and beauty products.
Sources
Yahoo Finance
$M is "becoming a smaller company but the hope is that the profitability story improves by investing high-end luxury with Bloomingdales and beauty with Bluemercury," says Forrester Research retail analyst @smulpuru on Macy's latest earnings and store closure announcements. https://t.co/ugUGoJzf0T
CNBC Cramer says Macy's turnaround plan could kickstart growth at the department store chain https://t.co/PLcLcV0KFr
investorAiSo ... Wall Street had low expectations. Macy's manages to beat the low expectations. Wave goodbye to some employees who will join the jobless and the shares are up. All good ... or not. #USA #Economy $M https://t.co/INrf1NafOx