and another - retail USA clothing margin trend important...

and another - retail USA clothing margin trend important compared to year ago

Macy’s;

During Q3, sales fell 7% year-over-year to $5B. Brick-and-mortar and digital sales both decreased 7% compared to a year ago. Gross margin rate for the quarter was 40.3% vs. 38.7% a year ago. Merchandise margin improved 110 basis points, due to lower permanent markdowns within the Macy’s brand, as well as improved freight expense, partially offset by planned changes in the category mix. Macy's (M) merchandise inventory level was down 6% year-over-year and down 17% compared to 2019, which the department store operator said reflected ongoing disciplined inventory management.