DearWallstreet.com - Macy's holiday same-store sales fall on pandemic hit

Macy's holiday same-store sales fall on pandemic hit

By: Reuters
06:59 02/23/2021

(Reuters) - Macy's Inc holiday quarter same-store sales fell 17%, the department store chain reported on Tuesday, as a surge in online sales failed to offset the blow from fewer customers visiting stores due to the pandemic.

Analysts on average had expected same-store sales on an owned basis to fall 16.60% in the fourth quarter ended Jan. 30, according to IBES data from Refinitiv.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila)

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