Macy’s Inc. (M), a retail brand known for its stores including Macy’s and Bloomingdale’s, is currently experiencing a significant downturn, with shares down 25% year-to-date, following disappointing sales figures. For the latest reporting period, the company reported sales of $4.8 billion, a 4.1% decline year-over-year, and comparable store sales fell by 2.0% on an owned basis. Despite these challenges, the gross margin remained flat, which analysts considered a slight positive amidst unfavorable earnings estimates.
As of now, Macy’s holds a Zacks Rank of #5 (Strong Sell), indicating a bearish outlook from analysts regarding its earnings performance. The downward revision of earnings estimates suggests potential difficulties ahead for the company’s stock.
