Retail Stocks Drop in Reaction to Macy’s (NYSE:M) Guidance
Market News

Retail Stocks Drop in Reaction to Macy’s (NYSE:M) Guidance

Story Highlights

Retailer Macy’s released an earnings report earlier today that also came with cautious guidance for the year, causing retail stocks to fall.

Retailer Macy’s (NYSE:M) released an earnings report earlier today that also came with cautious guidance for the year. CEO Jeff Gennette pointed to inflation and student loan payments as potential economic headwinds for the retail sector. As a result, Macy’s and other retail stocks fell in reaction to this commentary. This includes:

  • Kohl’s Corporation (KSS)
  • Dillard’s (DDS)
  • Victoria’s Secret & Co (VSCO)
  • Foot Locker (FL)
  • Lululemon Athletica (LULU)
  • Nordstrom (JWN)

Unsurprisingly, Macy’s saw its stock plunge the most, with shares down almost 14% at the time of writing. Nevertheless, JWM and KSS aren’t far behind, as their shares fell over 10% and 8%, respectively.

Disclosure

Related Articles
TheFlyMacy’s call volume above normal and directionally bullish
TheFlyMacy’s call volume above normal and directionally bullish
TheFlyMacy’s call volume above normal and directionally bullish
Go Ad-Free with Our App