Macy's stock drops 8% after lowering Q4 sales outlook, plans store closures

From Stocktwits: 2025-01-14 00:12:13

Macy’s Inc. ($M) saw shares drop 8% as it lowered Q4 sales outlook to $7.8B to $8B, below previous range. Adjusted diluted EPS for Q4 2024 remains at $1.40 to $1.65. Macy’s First 50 locations and luxury retailers like Bloomingdale’s saw positive sales trends, as did Macy’s digital channel. CEO Tony Spring announced expansion of initiatives to 75 more locations in fiscal 2025. Stocktwits sentiment turned ‘bearish’ recently, with message volumes at ‘high.’ Macy’s plans to close 66 stores as part of its strategy to focus on profitable growth, with stock down 14% YTD.



Read more at Stocktwits: Macy’s Stock Dips After Lower Sales Outlook: Retail Mood Sours