Thursday, May 11, 2017

Lower Sales Drag Down Macy's Profit, Results Miss Forecast

Image result for macy'sLower sales dragged down Macy's profit during the first quarter as customers have changed their behavior to buy more online and retail locations see fewer shoppers.

The results fell short of Wall Street expectations as the retail giant reaffirmed that it expects sales to continue falling. The Cincinnati-based company's profit fell 39 percent percent to $71 million while revenue fell 7.5 percent to $5.34 billion.. . . more

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