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