Macy's Drops After Retailer Cut Its Outlook

Macy's has reduced its full-year earnings outlook due to weakened demand in discretionary categories starting in late March. Despite adjusted EPS beating estimates, the stock market reacted negatively, with shares dropping over 5%. The company lowered its EPS range and sales guidance, citing the need for further markdowns to manage excess spring inventory, a persistent issue for many retailers.

What did Macy's CEO say about the economic health of consumers?

How much did Macy's shares drop in the stock market?

What was the adjusted EPS range that Macy's provided?

What did Macy's indicate they would need to do to manage excess inventory?

What issue did Macy's face regarding its inventory?