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Macy’s raises annual forecast after strong quarter

Reuters/Yahoo Finance 05/26/2022

Macy’s raised its annual sales and earnings forecast after a strong start to 2022. “While macroeconomic pressures on consumer spending increased during the quarter, our customers continued to shop,” Macy’s CEO Jeff Genette said. “We saw a notable shift back to occasion-based apparel and in-store shopping, as well as continued strength in sales of luxury goods.”

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