Macy’s Inc.: Are The Recent Store Closures A Big Warning Sign For Investors?

Macy’s, Inc.’s fourth quarter 2023 earnings showed a mixed set of results. The company saw positive developments throughout 2023, including improving operating metrics and higher-than[1]expected gross margins, mainly driven by effective merchandising and a clear demonstration of value. These outcomes reflect the resilience and enthusiasm of the Macy’s workforce, which underpinned their recent performance. In terms of financial performance, Macy’s reported that for both the fourth quarter and the full year, adjusted EPS were above previous guidance. This result reflects improved gross margins, better SG&A control, increased other revenues, and higher asset sales gains. Furthermore, the company saw a growth in its omnichannel presence.