Macy’s reports low number of holiday sales

Macy's is reporting sales numbers on the lower end of it's range during the past holiday season.

CNN—Macy’s is reporting sales numbers on the lower end of it’s range during the past holiday season.

The retailer’s Black Friday and Cyber Monday sales met expectations and the week leading up to and following Christmas beat expectations.

But, the retailer says it’s sales lulls during the non-peak weeks were deeper than anticipated. Inflation and higher prices did cause Americans to spend more overall this holiday season.

According to the Mastercard spending pulse, U.S. retail sales increased 7.6% from November 1 to Christmas Eve compared to the same time last year.