Macy's reported a slight increase in comparable sales during the holiday season, rising 0.2%, its best performance in nearly three years. Despite this improvement, the department store faces significant hurdles, such as consumer inflation, shrinking margins, and a recent accounting mistake. In response to these challenges, Macy's has been implementing a turnaround plan, closing over 60 stores from a planned 150. The outlook for the coming year is cautious, with projected revenue declines tied to store closures and a potential 2% drop in comparable sales, exacerbated by tariffs imposed by the Trump administration on imports from key trading partners.
Macy's saw a modest 0.2% rise in comparable sales this holiday season, its best in nearly three years, amid challenges like tariffs and inflation.
Despite rising sales, Macy's faces a challenging year ahead due to store closures, inflation, and looming tariffs, leading to a cautious revenue outlook.
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