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Per data from Citi analyst Paul Lejuez, Macy's credit card business hauled in $863 million in sales last year — up about 12% from 2019. While that made up 3.5% of Macy's sales in 2022, it ...
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.
Macy's 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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