KSS - What's Going On With Macy's Stock? | Benzinga
Macy’s Inc (NYSE:M) shares are trading lower by 2.5% to $19.25 during Thursday’s session. The stock is falling following mixed economic data and worse-than-expected first-quarter results from peer retail company Kohl’s Corp (NYSE:KSS).
What Happened?
Kohl’s shares plummeted by 26.6% Thursday after the company reported worse-than-expected first-quarter FY24 earnings and revised its outlook downward.
The company’s sales for the quarter declined by 5.3% year-over-year to $3.178 billion, missing the analyst consensus estimate of $3.335 billion. Comparable sales decreased by 4.4%, although the gross margin improved by 48 basis points to 39.5%…Read More
How To Buy Macy’s Stock
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