Several retailers made preannouncements ahead of the 2023 ICR Conference this week. After taking a look at the results presented by management, it appears a trend is taking shape.
What To Know: Macy's Inc(NYSE:M) said it expects fourth-quarter revenue at the low-end to mid-point of the company's previously issued guidance range of $8.161 billion to $8.401 billion versus average estimates of $8.31 billion. The New York-based company anticipates adjusted earnings of $1.47 to $1.67 per share versus estimates of $1.60 per share.
Macy's noted that discretionary spending came under pressure during the holiday season.
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