Santa Claus might be coming to town, but that hasn't stopped pouting and crying from seeping into consumer sentiment this holiday season. The University of Michigan's Survey of Consumers continues to show that Americans aren't feeling very optimistic about their finances or the job market.
Retailers are trying various strategies to counter the drag from inflation and tariffs, from leaning on wealthier customers and celebrity ads to outright store closures.
Macy's (NYSE: M) posted a market-beating Q3 today as its turnaround plan focused on improving operations, digital channels, and merchandise, continued to resonate with customers. But the management's “prudent” outlook for the holiday quarter is still resulting in pressure on the retail stock at the time of writing.
Macy's, Inc. (NYSE:M) shares were under pressure on Wednesday following a quarterly profit forecast that fell short of some investor expectations, despite the retailer posting strong underlying sales ahead of the holiday shopping season. The department store operator reported net revenue of $4.7 billion for the third quarter, down 0.6% from a year earlier but 5% above analyst expectations.
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