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
21 November 2019 - 17:50
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.