Macy's CEO Warns of Continued Consumer Spending Pressure in 2023.

Macy's reported its fiscal Q1 results on Thursday. Shares jumped nearly 20%.

Sales fell to $3.99 billion in the quarter, as compared to $5.17 billion in the year-ago quarter.

The company has released its Q1 2020 earnings report on 1 July 2020. The numbers were less than impressive; however, it hardly came as a surprise knowing that the company had to shut its brick and mortar operations in March.