Macy's slashes expectations for the year after a pullback by shoppers in the spring
FILE - Shoppers walk into a Macy's department store Monday, Feb. 22, 2021, at Miami International Mall in Doral, Fla. Macy's reports their earnings on Thursday, June 1, 2023. (AP Photo/Wilfredo Lee)
NEW YORK (AP) — Macy's slashed its outlook for the entire year as sales weakened in the first quarter during an increasingly challenging economic environment, including stubbornly high inflation.
Sales began to flag in March, forcing the New York department store to cut prices on clothes and other discretionary items...
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