Profit came in above expectations, however, as the Minneapolis chain brought inventories closer in line with cautionary spending on discretionary items by customers
The last time the company projected a decline in revenue was in 2009 in the aftermath of the bursting of the housing bubble and financial crisis
Retail sales were down in November and December, the critical holiday period
Macy’s on Thursday lifted investors with a relatively positive outlook on profit for this year
A number of major retailers, Target, Walmart and Home Depot among them, have issued weaker financial outlooks for 2023 in a challenging economic environment for Americans
Target’s tempered outlook follows Walmart’s and Home Depot’s tepid annual forecasts last week
Consumers should contact Cosori to receive a free replacement air fryer or another product
Home Depot fell to one of the market’s larger losses after giving financial forecasts that fell short of expectations
The company expects a decline in annual per-share earnings in the mid-single-digit percentage, which caught industry analysts off guard
Walmart announced in January that it would be raising its hourly wage to an average of $17.50
The company continues to reinvent itself with new products, more automation and digital services