Thursday, August 10, 2017

Macy's earnings beat analyst estimates; sales fall for 10th straight quarter

Image result for macy'sCincinnati-based retail giant Macy's Inc.'s earnings exceeded analyst estimates for the second quarter of 2017 despite sales falling for the 10th straight quarter, the company announced Thursday.

The company attributes the decline in sales to the closing of 68 store locations completed earlier this year. That's part of a plan to close 100 stores that are either underperforming or worth more as real estate than they are as operating businesses. The remaining 30 or so locations will close as their leases expire.. . . more

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