Retail

Macy’s 2019 holiday same-store sales fall only 0.6%, shares gain

0


People walk past Macy’s flagship store in Herald Square in New York City.

Getty Images

Macy’s holiday sales dropped, the company announced Wednesday, but not as much as analysts had anticipated, sending the department store chain’s shares sharply higher.

It said same-store sales fell 0.6% at its owned and licensed stores during November and December. At owned stores, same-store sales fell 0.7% during that period.

For the fourth quarter, which includes the holiday season, analysts had been calling for a 1.75% decline in same-store sales, according to a poll by Refinitiv.

Macy’s shares climbed as much as 7% in premarket trading on the news, which provided some hope that some of Macy’s efforts…



Source cnbc.com

Mnuchin says Boeing 737 Max grounding could slow US growth by a half point

Previous article

Aerospace parts-makers Woodward, Hexcel plan to merge

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Retail