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Macy’s is warning of a spike in customers who are failing to make credit card payments, adding to the evidence of mounting financial stress on consumers.
Investors should pay careful attention to what Macy's said about rising issues in its credit card business.
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Macy's, Inc. owns the department store chains Bloomingdale's and Macy's, and beauty store chain Bluemercury, all of which operate flagship stores in Manhattan. As of October 2022, it operates 722 locations in the United States, Guam, and Puerto Rico. The company was the world's largest fashion goods retailer and the 36th-largest retailer overall in 2010. [3] Macy's, Inc. has been headquartered ...
American Express Company (Amex) is an American bank holding company and multinational financial services corporation that specializes in payment cards. It is headquartered at 200 Vesey Street, also known as American Express Tower, in the Battery Park City neighborhood of Lower Manhattan. Amex is the fourth-largest card network globally based on ...
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Macy's (M) posted a beat on earnings estimates on Tuesday before the market open, but the department store pointed out that its credit card business is under pressure.
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