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-0.00208159866777693 -0.00028032195392732 -0.00222037191229526 -0.00346933111296142 -0.00346933111296142 -0.00804884818207047 0 0.00405217873993896
Stock impact report

Margin worries send Macy's shares tumbling after profit beat [Reuters]

Macy's Inc (M) 
Last macy's inc earnings: 2/25 06:55 am Check Earnings Report
US:NYSE Investor Relations: macysinc.com/ir
Company Research Source: Reuters
Margin worries send Macy's shares tumbling after profit beat | Reuters 4 Min Read (Reuters) - Macy’s Inc ( M.N ) on Wednesday said its gross margins would shrink in the fall season as delivery expenses rise, overshadowing a quarterly sales and profit beat and sending shares down more than 13 percent. The department store operator reported a surprise rise in quarterly same-store sales and also upped its full-year sales and profit forecasts. Overall quarterly sales were lower, though better than analysts had expected. Macy’s has been closing stores, controlling inventory, building its Backstage off-price business and selling or leasing out prime real estate properties to grapple with falling mall foot traffic and online competition. It launched a revamped loyalty program in October 2017, which executives on Wednesday said would result in a bigger hit from delivery expenses to third-quarter margins this year. “We expect our gross margin rate as a percent of sales to be slightly up for Show less Read more
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