Now, Macy’s (NYSE: M) Nordstrom (NYSE: JWN) Slash Guidance Due to High Inventory
Macy’s, Inc. (NYSE:M) and Nordstrom, Inc. (NYSE:JWN) have joined the bandwagon of U.S. retailers that have fallen prey to the shift in consumers spending preferences and economic uncertainties in the United States. The companies, which reported better-than-expected earnings in the second quarter of Fiscal 2022 (ended July 30, 2022) on Tuesday, lowered their projections for the year, citing high inventory levels as their biggest problem. Curtailed income during the pandemic period and a greater desire for leisure traveling post the easing of COVID-19 restrictions seem to have influenced consumers’ spending pattern a lot. Also, cost inflation, an economic slowdown in the U.S.
Now, Macy’s (NYSE: M) Nordstrom (NYSE: JWN) Slash Guidance Due to High Inventory
Macy’s, Inc. (NYSE:M) and Nordstrom, Inc. (NYSE:JWN) have joined the bandwagon of U.S. retailers that have fallen prey to the shift in consumers spending preferences and economic uncertainties in the United States. The companies, which reported better-than-expected earnings in the second quarter of Fiscal 2022 (ended July 30, 2022) on Tuesday, lowered their projections for the year, citing high inventory levels as their biggest problem. Curtailed income during the pandemic period and a greater desire for leisure traveling post the easing of COVID-19 restrictions seem to have influenced consumers’ spending pattern a lot. Also, cost inflation, an economic slowdown in the U.S.