Macy's says Q4 sales to come in at low end of guidance

At the ICR Conference in Orlando Monday morning, Macy's CEO Jeff Gennette offered a measured assessment of its holiday season performance, a bellwether of what's to come from competitors.

Why it matters: The new guidance — now between $8.16 billion and $8.4 billion for net sales — is a decline versus Q4 2021 for the parent of both Macy’s and Bloomingdale’s, and is not encouraging given high single-digit inflation.