Macy's slashes sales outlook as iconic retailer struggles to lure cash-strapped shoppers
Macy's(M) New York Post·2024-08-21 23:33
Macy’s slashed its annual sales forecast on disappointing second quarter earnings as the iconic department store struggles to win over inflation-battered customers. Macy’s shares plunged 13.4% on Wednesday morning.The retailer has been forced to cut prices and offer more promotions on its mid- to high-end goods to compete with affordable rivals — but it still lost out on sales. 3 Macy’s lowered its annual sales forecast on Wednesday after revealing disappointing second quarter earnings. REUTERSThe compan ...