"This Is About Credit Card Balances, This Is About Student Loans": Macy's Crashes As Consumer Situation Deteriorates

The text discusses various types of debt and how they may come into focus in the near future.

In a turbulent economic climate that has impacted discretionary spending throughout the year, Macy's second-quarter results were impacted by credit card delinquencies. It's about the balances on your credit cards. Here's more from Macy's Chief Financial Officer:

What we saw was that delinquencies in all age balances and age balances actually increased after Q1, primarily between June and July.


He said that the return of Nike, Under Armour, and Macy's speaks volumes about Macy's strength, reach, and ability to attract wholesale partners. Four or more stars have been awarded. Saunders stated in an emailed comment that'standards of presentation are fairly strong in stores and we hope that they will remain so'. On 34th is not enough to save Macy's, but it's a good example of what's needed. Macy's will drop the moniker 'Market by Macy's' for its latest locations in the small-format fleet. They will 'bear just the iconic Macy's' nameplate', according to this release. Market by Macy's will remain the name of the first eight stores. Saunders, of GlobalData, says that this and other tactics are not acceptable, considering the company's struggles to maintain merchandising standard, as well as the macroeconomic challenges. He said: 'This proves that Macy's not only runs in the opposite direction of most other retailers but has also lost a significant amount market share.' This, in our opinion, calls into question the entire company's strategy. Macy's may issue all the platitudes they want, but that doesn't change the fact it is a retailer on the decline. Macys' stock dropped 14% in one day, the biggest drop since early 2020 when the US economy shut down.