Macy's posted a bigger-than-expected drop in first-quarter sales on Tuesday, hobbled by stiff competition from off-price retailers for shoppers increasingly cautious about spending on products such as apparel and footwear.
Macy's beat earnings estimates as the department store operator moves to close about 150 namesake locations and open new Bloomingdale's and Bluemercury stores.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Macy's (M), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended April 2024.