Neil Goh's questions to Macy's Inc (M) leadership • Q2 2024
Question
Neil Goh, on for Oliver Chen, asked whether the heightened promotional environment expected in the back half is driven more by the competitive landscape or by Macy's own inventory position. He also asked for key factors being watched regarding consumer health.
Answer
CEO Tony Spring stated that while the company monitors all economic indicators, its focus is on controlling its own inventory health, which is well-positioned with good composition and newness. He emphasized the strategy is to provide compelling value without simply giving away margin. COO and CFO Adrian Mitchell added that the company is controlling what it can, focusing on internal opportunities to improve the customer experience and drive growth, regardless of the external environment.