Macy’s Inc. reported third-quarter financial results on Wednesday. Analysts are largely encouraged by the company’s progress but remain cautious due to margin pressures.
“M slightly raised its sales outlook for the year while reducing expectations for gross margin and leaving its SG&A outlook largely intact, reflecting continued macro challenges, including discerning consumer spending and elevated promotional activity along with incremental delivery expense following its investigation of accounting irregularities,” Telsey Advisory Group analyst Dana Telsey said in a new note to clients.
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