Macy’s swung to a profit in the fourth quarter, though sales dipped with shoppers still cautious about spending.

Macy's is joining a growing list of retailers to issue a weak outlook as the once iconic retailer posts tepid fourth quarter results. On Thursday before market open, the departmen

Shares of Macy’s were falling in premarket trading Thursday after the department store owner reported a mixed fourth quarter and issued soft guidance for the current fiscal year. Macy’s posted adjusted earnings of $1.

The owner of the Macy’s and Bloomingdale’s chains beat fourth-quarter earnings estimates, but missed on the top line.

Macy’s stock was down 2% on Thursday after the retailer issued a profit warning as it faces “external uncertainties” amid turnaround efforts. Macy’s said its lower-than-expected earnings expectations for the first quarter and full year reflect an unclear immediate future for customers and its core nameplate retail brands including Macy’s,

Macy's forecast another year of falling sales and gave earnings guidance that disappointed investors. Shares in the department-store chain slipped nearly 4% in premarket trading. Read more:

For all of 2024, Macy’s Inc.’s net sales decreased 3.5 percent to $22.3 billion, with comparable sales down 0.9 percent on an owned, licensed and marketplace basis. Sales growth at Macy’s First 50 locations, Bloomingdale’s, and Bluemercury was offset primarily by weakness in Macy’s non-First 50 locations and digital channel.