Macy’s reported declines in its bottom and top lines but still beat expectations amid strong luxury sales and sounded a confident note as its heads into the holiday season.
The department store giant also reaffirmed its 2022 guidance for annual sales and raised its earnings outlook.
“Our Polaris strategy is working,” stated chairman and CEO Jeff Gennette said. “In the third quarter, we achieved solid top line results and a strong beat to our bottom line guidance. As a leading gifting destination with fresh inventory across the value spectrum, we are ready to meet our customers’ needs this holiday season.”CSA