The Zacks Consensus Estimate for revenues is pegged at $5,057 million, suggesting a 9.7% dip from the prior-year quarter’s reported figure. Factors to Note Soft consumer demand due to the inflationary environment and other macroeconomic pressures is likely to have weighed on Macy’s second-quarter fiscal 2023 performance. Markdowns to optimize inventory levels within the overstock categories and the possibility of an elevated promotional environment are expected to have hurt margins and the bottom line.