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Macy's, Inc. (NYSE: M) net income drops 60% in Q1FY25 as revenue drops
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Highlights
Macy's, Inc. (NYSE: M) is a versatile retail corporation spanning multiple channels. It manages stores, mobile apps, and websites across three distinct brands: Macy's, Bluemercury and Bloomingdale's. These platforms offer a diverse array of products, from clothes and accessories for men, women, and children to home furnishings, cosmetics, and more. With a presence in 43 states, the District of Columbia, Puerto Rico, and Guam, Macy's, Inc. serves customers across a wide geographical spread. It has a market capitalization of USD 5.16bn.
In Q1FY25, the company’s total operating revenue declined by around 3.3% compared to pcp due to a dip in comparable sales. The decreased revenue led to a decline in net income by a notable 60%.
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