Macy's revenue decreases 4.3 percent for Q3

The company said on Thursday its Q3 net profit decreased. Compared with the same period last year, revenues also slipped by 4.3 percent.

For Q3, the company's net profit was 21 million dollars, dropped from 83 million dollars last year. Furthermore, revenues slipped to 5,173 million dollars. The profit margin of the company decreased to 0 percent compared to 2 percent a year ago.

Macy's Inc (NYSE: M) is best known for its mid-range chain of department stores Macy's. It also owns upscale Bloomingdale's department stores. The company was founded in 1858 and currently operates 867 retail stores across the United States. Macy’s is headquartered in Cincinnati.

As of 2019, Macy's has more than 130,000 employees and operates over 800 stores.

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