Macy’s reports better-than-expected earnings, showing success in its strategy of refining operations. Abercrombie & Fitch raises its sales outlook despite a drop in comparable sales, indicating resilience in the brand. In contrast, Okta faces a 12% decline following a bleak forecast for the next quarter. Meanwhile, Vail Resorts celebrates a stock surge after reappointing its former CEO. Tune in for insights on retail wins and tech challenges.
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insights INSIGHT
Macy's Strategy Pays Off
Macy's new strategy focuses on the best-performing stores with improved staffing and displays.
This approach is already yielding better-than-expected quarterly results despite overall retail challenges.
insights INSIGHT
Abercrombie's Mixed Brand Performance
Abercrombie & Fitch raised its full-year sales outlook despite a drop in comparable sales for its namesake brand.
Macy’s (M) posted better-than-expected quarterly results — a sign the department-store operator’s strategy of focusing on its best-performing locations is starting to pay off despite weakening consumer sentiment and tariff volatility.Comparable-store sales in the fiscal quarter ended May 3 fell less than analysts had anticipated, the company reported on Wednesday, while revenue of $4.6 billion in the period also surpassed the average estimate.
- Abercrombie & Fitch (ANF) shares rose sharply in premarket trading Wednesday after the retailer upped its full-year outlook, suggesting the retailer is confident in its ability to navigate the changing tariff landscape.The fashion retailer now sees full year net sales growth of 3% to 6% up from its estimate of 3% to 5% in March. This included approximately $50 million of tariff expenses.Comparable sales for the Abercrombie namesake brand fell 10% in the quarter ending May 3, a bigger drop than analysts were anticipating, the New Albany, Ohio-based company said. Hollister brand comparable sales were up 23%, far surpassing expectations.
- Okta (OKTA)shares are down 12% in premarket trading, after the cybersecurity company gave a weaker-than-expected outlook for second-quarter current remaining performance obligation. Analysts see the forecast as conservative.
- Vail Resorts (MTN) shares jump 11% in US premarket trading after the operator of ski resorts reappointed Rob Katz as CEO, succeeding Kirsten Lynch, and reaffirmed its fiscal 2025 guidance. Analysts see the leadership change as positive, with JPMorgan upgrading its rating on the stock.
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