In a high-stakes gamble, Macy’s Inc. has doubled down for the fourth quarter.
Unlike many retailers, the department store on Wednesday affirmed its expectations for the full year even as it reported a net loss of $44 million in the third quarter ended Nov. 1. The guidance leaves the vast majority of its projected earnings for the fiscal year dependent on fourth-quarter results and the whims of increasingly skittish consumers, who appear more reluctant than ever to part with disposable dollars.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"