NEW YORK, February 23, 2024--The board of directors of Macy's, Inc. (NYSE: M) today declared a regular quarterly dividend of 17.37 cents per share on Macy's, Inc.’s common stock, an increase of 5%, payable April 1, 2024, to shareholders of record at the close of business on March 15, 2024.
Many big retailers will release their earnings reports next week, including Macy's (M) and Best Buy (BBY). With continued inflation and uncertainty around the Federal Reserve's next monetary policy decision, Wall Street is turning toward other factors like the strength of the US consumer to better understand economic conditions. BMO Capital Markets Managing Director Simeon Siegel joins Yahoo Finance to discuss upcoming retail earnings and the state of the American consumer during economic headwinds. Siegel elaborates on the state of the consumer:"It sounds pretty scary, so if the question is whether the consumer is healthy or not, I don't know. If the question is whether the consumer is spending or not, the revenues are saying they are. And so I know there's this perception that because of inflation on staple items, people aren't buying discretionary, but I'm not seeing that in the results... We'll see TJX (TJX) give us a very good snapshot on people that are specifically looking for value, but then we'll see Birkenstock (BIRK), on the other hand, where people are buying, perhaps paying more comfortable spending on." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
Besides Wall Street's top -and-bottom-line estimates for Macy's (M), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended January 2024.