Macy’s and Costco sound a warning about the economy

Major retail giants such as Macy’s and Costco have recently witnessed a noticeable shift in consumer behavior, indicating a potential concern for the overall health of the U.S. economy.

Macy’s, in particular, revised its annual profit and sales projections downward due to a decline in customer demand throughout March.

CEO Jeff Gennette acknowledged that the pullback by U.S. consumers, especially at Macy’s, exceeded their initial expectations, CNN reported.

Macy’s and Costco sound a warning about the economy
READ MORE: https://www.cnn.com/2023/06/01/investing/macys-earnings-costco/index.html

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