Post by
Mephistopheles3 on May 26, 2022 9:32am
Macy's - surpasses earnings & boosts forecast
Retail sector should see a little bounce this morning. Macy's blew away the Q and upgraded their 2022 forecast and is up 16% now. High-income consumers are not being impacted that much by inflation and are hitting the stores for special occassions / office wear. Hopefully positive sign for RET as well.
Comment by
TheCount11 on May 26, 2022 11:07am
The consumer is alive and well. A little closer to home TD projects Roots DTC Q1 revenues increasing 13.4% year over year while maintaining gross margins over 57% which means they expect DTC GM to be over 60%. Q1 is typically 11% of revenues. Reitmans Pre Covid 2017 to 2019 did around 55% gross margins in Q1. Q1 was typically 22% of revenues.