Retail News

Macy’s raises annual forecast as shoppers return to stores

Reuters/Nasdaq 05/18/2021

Macy’s Inc. has raised its annual sales and earnings forecast based on a number of factors: stores operating on pre-pandemic terms, pent up shopping demand, increased disposable income and optimism around personal finances and the direction of the U.S. economy. The department store operator announced that same-store sales jumped 63.9 percent during the first quarter, going up against a period in 2020 when many locations were forced to close due to the pandemic.

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