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The company said on Thursday its Q3 net profit decreased. Compared with
the same period last year, revenues also slipped by 4.3 percent.
For Q3, the company’s net profit was 21 million dollars, dropped from 83
million dollars last year. Furthermore, revenues slipped to 5,173 million
dollars. The profit margin of the company decreased to 0 percent compared
to 2 percent a year ago.
Macy’s Inc (NYSE: M) is best known for its mid-range chain of department
stores Macy’s. It also owns upscale Bloomingdale’s department stores. The
company was founded in 1858 and currently operates 867 retail stores across
the United States. Macy’s is headquartered in Cincinnati.
As of 2019, Macy’s has more than 130,000 employees and operates over 800
stores.
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