Why Macy's Stock Plummeted by Nearly 10% This Week
Macy's(M) The Motley Fool·2024-08-24 05:00
Guidance cuts didn't do the company any favors with investors.Sometimes it just isn't enough for a company to beat analyst estimates when it publishes quarterly earnings reports. At first glance, Macy's (M 5.21%) second quarter looked rather good, especially since the famous retailer topped the consensus projections for both revenue and profitability.But that earnings news wasn't all good, and quite a few investors traded out of the stock. According to data compiled by S&P Global Market Intelligence, across ...