The Cincinnati-based department store chain said it had net income of $1.54 per share. Earnings, adjusted for non-recurring costs, came to $2.02 per share.
Category: Bloomingdales
A Macy’s, Inc. Fire Sale Would Be Bad for Investors
CEO Terry Lundgren has been trying to rally his employees with the slogan, “A setback is a setup for a comeback.” However, despite having led a remarkable comeback at Macy’s after the Great Recession, Lundgren may be losing confidence in Macy’s ability to recover from its recent declines in sales and earnings.
Traditional Retailers Are Doing Even Worse Than You Think
It was a rough 2016 holiday season for brick-and-mortar retailers. Department store shares got thumped last week after Macy’s both lowered their full-year earnings guidance and said their comparable-stores sales dropped.