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Macy's shares plunge on poor holiday sales; 8 stores to close

bizjournals Friday, 11 January 2019
Stock in Cincinnati-based retailer Macy's Inc. cratered Thursday on reports that the department store experienced weaker than expected sales during the holiday months of November and December. Macy's (NYSE: M) reported comparable sales growth on an owned plus licensed basis of 1.1 percent for November and December. The company cut its full-year sales guidance to 2 percent growth, down from the previous expectation of 2.3 to 2.5 percent on that information. "The holiday season began strong –…
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News video: NYSE Trader Breaks Down Bank Earnings, the Retail Sector and the Fed Speeches

▶ NYSE Trader Breaks Down Bank Earnings, the Retail Sector and the Fed Speeches 03:33

For the most part, it's been a positive week in the markets. However, Thursday morning saw the markets open down over 100 points. The retail sector was hit hard after it released holiday sales. Retailers, such as Target and Macy's , fell in morning trading. TheStreet's Martin Baccardax reported on...

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