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Fly News Breaks for June 16, 2016
M
Jun 16, 2016 | 09:16 EDT
Cleveland Research analyst Matthew Delly said Macy's Q2 comps are likely on pace to beat consensus expectations driven by an improvement in late May and early June. The analyst said Q2 gross margin headwinds appear in line with consensus expectations and greater compared to Q1 driven by increased promotional activity year-over-year and delayed markdowns on seasonal merchandise coming out of Q1. Delly rates Macy's a Neutral.
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