Macy’s cuts forecast again after gloomy quarter
The department store was the second to cut its earnings outlook this week, blaming weak international tourism and sluggish mall traffic
Bengaluru —Macy’s cut its annual profit forecast for the second time in 2019 on Thursday, as the department store operator blamed weak international tourism and sluggish mall traffic for the first drop in same-store sales in two years.
Shares fell 4% in pre-market trading. The company was the second major department store to cut its earnings outlook this week, after Kohl’s, ahead of the holiday sales season...