Macy’s reports 3Q loss but shows improvement
November 19, 2020
Macy’s reported a loss of 19 cents a share in the third quarter as the retailer’s same-store sales fell 22 percent. Online sales rose 27 percent during the quarter, helping to boost Macy’s comps. The retailer’s earnings and sales shortfall did outpace Wall Street’s expectations, which Macy’s management attributed to fiscal discipline and improving performance at its namesake chain as well as Bloomingdale’s and Bluemercury.
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