International Tourists Are Back to Spending Big at Macy’s
Technicals Suggest Macy's Stock May Be at Infection Point
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Retailers may finally be welcoming back a lapsed group of key shoppers: international tourists.
Spending from overseas visitors rose almost 10 percent in the first quarter ended May 5, Macy’s Inc. Chief Financial Officer Karen Hoguet said on a conference call Wednesday. That was only the second increase since 2014, she said. Shoppers are flocking to Macy’s and Bloomingdale’s stores in San Francisco, New York and Florida in particular, according to Chief Executive Officer Jeff Gennette.