Macy’s, Inc. Reports Third Quarter 2023 Results
*Net sales of $5 billion, down 7% versus the third quarter of 2022. Brick-and-mortar sales decreased 7% versus the third quarter of 2022. Digital sales decreased 7% versus the third quarter of 2022. *Comparable sales down 7.0% on an owned basis and down 6.3% on an owned-plus-licensed basis. - Macy’s comparable sales were down 7.6% on an owned basis and down 6.7% on an owned-plus-licensed basis. - Bloomingdale’s comparable sales on an owned basis were down 3.2% and on an owned-plus-licensed basis were down 4.4%. - Bluemercury comparable sales were up 2.5% on an owned basis. * Gross margin rate for the quarter was 40.3%, up from 38.7% in the third quarter of 2022.