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Macy's says more than half its customers have a household income of $100,000, and that's helping its turnaround
Business Insiderยท 2025-09-03 16:48
Macy's is betting on high-earners to lead its comeback to retail dominance. The department store chain topped Wall Street's estimates for the second quarter with net sales of $4.8 billion, the company reported Wednesday.CEO Tony Spring told investors on Macy's earnings call that higher-income households are driving part of the recovery. Spring said that more than 50% of Macy's customers come from households earning over $100,000. "While we have exposure to lower income levels, it's not nearly what it was, ...