Latest Macy's Inc News

Walmart cuts profit outlook as shoppers adapt to inflation

Jul. 25, 2022 18:30 PM EDT

NEW YORK (AP) — Walmart Inc. on Monday lowered its profit outlook for the second quarter and the full year, saying rising prices on food and gas are forcing shoppers to cut back on discretionary items, particularly clothing, that carry higher profit margins. That behavior is...

Facing huge inventory, Target cuts vendor orders, prices

Jun. 07, 2022 14:54 PM EDT

NEW YORK (AP) — Target is canceling orders from suppliers, particularly for home goods and clothing, and it's slashing prices further to clear out amassed inventory ahead of the critical fall and holiday shopping seasons. The actions, announced Tuesday, come after a pronounced...

Inflation divide: The wealthy splurge, the poorest pull back

Jun. 05, 2022 10:26 AM EDT

NEW YORK (AP) — Americans at the low end of the income rung are once again struggling to make ends meet. A confluence of factors — the expiration of federal stimulus checks and surging inflation on staples like gas and food — are driving an even bigger wedge between the haves...

Wall Street breaks 7-week losing streak, longest since 2001

May. 27, 2022 16:45 PM EDT

NEW YORK (AP) — Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001. The S&P 500 rose 2.5% and finished 6.6% higher for the...

Asian shares' rise broadly cheered by US earnings, rally

May. 26, 2022 23:46 PM EDT

TOKYO (AP) — Asian shares gained Friday as investors cheered a strong set of earnings from retailers that has sent U.S. shares higher. Benchmarks were rising in early trading across the region, including Japan, China, Australia and South Korea. “Improved risk...

Macy's raises annual profit outlook on strong Q1 results

May. 26, 2022 18:20 PM EDT

NEW YORK (AP) — Shoppers' return to occasion dressing helped to power Macy's fiscal first-quarter results, and the department store chain raised its annual earnings outlook even as surging inflation is crimping Americans' budgets. The results announced Thursday were among the few...