Macy's Q2 profit despite weak sales amid cautious consumer spending during pandemic.

Macy's reported a profit in Q2, but sales were unexpectedly weak due to customers becoming more cautious with their spending. The company's profit swing came as a surprise amid ongoing economic uncertainty and the pandemic's impact. This trend may have long-term implications for the retail industry, particularly for brick-and-mortar stores like Macy's, as consumers prioritize essential items over discretionary spending.

August 21, 2024
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