Wednesday, May 11, 2016

Macy’s Plunges After Cutting Profit Outlook

Macy’s Inc., the largest U.S. department-store company, cut its profit forecast for this year and posted first-quarter revenue that missed analysts’ estimates as slow mall traffic hurt sales.

The company also cut its forecast for full-year sales, citing a double-digit drop in tourist spending and a slowdown in sales of some core categories.. . . more

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