Macy’s sales and profits went the wrong way in 1Q
May 11, 2017
Macy’s same-store sales fell 5.2 percent in the first quarter while its profits dropped 39 percent year-over-year. Jeff Gennette, Macy’s CEO, said the company stabilized its business in 2017 and would make aggressive investments in omnichannel initiatives to turn its business around. The department store retailer has seen sales continuing to falter over the past nine quarters.
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