Macy’s (M) earnings Q3 2023


Macy’s Herald Square store in New York is shown on Aug. 21, 2023.

View Press | Corbis News | Getty Images

Macy’s on Thursday topped Wall Street’s quarterly expectations, as inventory and margin improvement helped offset an 7% year-over-year decline in sales.

The department store chain’s shares popped more than 7% in premarket trading.

In an interview with CNBC, CEO Jeff Gennette said the company has seen steady business across key categories for the holiday season, especially beauty.

He said Macy’s sees factors that could work in its favor during the holidays: Its inventory levels are roughly flat to a year ago, giving the company flexibility to buy more or less of merchandise depending on…

Source cnbc.com

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