The Traderszone Network

Published in TZ Latest News 13 August, 2014 by The TZ Newswire Staff

Macy’s cuts same-store sales forecast, shares drop

Macy’s earnings for the quarter ended Aug. 2 also missed the average analyst estimate. “…Many customers still are not feeling comfortable about spending more in an uncertain economic environment,” Chief Executive Terry Lundgren said in a statement on Wednesday. Macy’s said it expects same-store sales to increase 1.5 percent to 2 percent for the full year. Macy’s stores sell clothing, accessories, jewelry and home goods to mainly middle-class shoppers.