Macy’s Inc shares pulled back by 4.7% on Friday after the stock’s big post-earnings gain on Thursday.
Telsey Advisory Group analyst Dana Telsey said Macy’s third quarter was impressive, but longer-term traffic concerns remain. “The fourth quarter EPS guidance is slightly below the current consensus estimate despite the strong third quarter trends, with impacts from supply chain constraints, a tight labor market, and shipping surcharges contemplated in the outlook,” Telsey wrote.
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