Macy’s raises annual forecast as shoppers return to stores
May 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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