Macy’s Cuts Full-year Same-store Sales Forecast
Macy’s cut its full-year same-store sales forecast, saying a 3.3 percent rise in second-quarter sales would not make up for weakness in the first quarter when harsh weather kept shoppers away. Shares of the company, which also owns the high-end Bloomingdale’s chain, were down 5 percent at $56.77 in premarket trading. Macy’s said it expects same-store sales to increase 1.5 percent to 2 percent for the full year.
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