Macy's: Even Luxury Shoppers Are Making ‘Thoughtful' Choices About Spending
Macy's(M) pymnts.com·2024-05-22 02:22
Economic pressures are driving shoppers to scrutinize their discretionary spending more carefully, according to Macy’s, with even high-income customers showing increased selectivity in their purchases of luxury items.On a call with analysts Tuesday (May 21) discussing the company’s first-quarter 2024 financial results, Macy’s Chairman and CEO Tony Spring noted that, amid wage and job growth, shoppers continue to feel financial pressure, prompting them to “carefully scrutinize their discretionary purchases.” ...