“Macy’s and Costco sound a warning about the economy”
June 1, 2023
“Macy’s, Costco and other big chains say shoppers are pulling back at their stores and changing what they buy. That could be a red flag for the US economy. Macy’s (M) on Thursday cut its annual profit and sales forecast after customer demand slowed in March…
Same-store sales at the Macy’s sank 8.7% last quarter, while the higher-end department store Bloomingdale’s dropped 3.9%. Macy’s stock dropped around 6% during pre-market trading Thursday. The company was the latest retailer to note shifts in customer demand…
Dollar General (DG) said its core lower-income customers were passing up discretionary products like home goods and clothing. The company slashed its outlook on weak customer demand, sending its stock falling 10% during pre-market trading…”
https://www.cnn.com/2023/06/01/investing/macys-earnings-costco/index.html
The title of this article is weird. Dollar General had more presence in this article than Costco.