Macy's (M) PT Lowered to $12.75 at UBS

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Go back to Macy's (M) PT Lowered to $12.75 at UBS

Macy's (M) stock pares premarket losses on plans to expand Nike product offering

June 1, 2023 7:21 AM EDT

(Updated - June 1, 2023 10:10 AM EDT)

Shares in Macys (NYSE: M) traded 3.4% lower in pre-market Thursday after the company was forced to cut its full-year outlook as demand trends weakened further in our discretionary categories.

Shares initially plunged as much as 15% on the earnings release. However, the stock recovered a majority of losses after CEO Jeff Gennette said on the earnings call that the... More