Sponsors
Billabong ▼ -0.005 | PPR ▼ -0.40 | American Apparel ▲ +0.020 | The Buckle ▼ -0.68 | Columbia ▲ +0.16 | Deckers Outdoor ▼ -1.33 | Dicks ▼ -0.45 | Foot Locker ▼ -0.91 | Genesco ▼ -1.76 | Iconix Brand Group ▼ -0.90 | Jarden Corp ▲ +0.06 | Nordstrom ▼ -0.29 | Luxottica ▲ +1.20 | Nike ▲ +0.08 | Pacific Sunwear ▲ +0.01 | Skullcandy ▼ -0.17 | Sport Chalet - 0 | Urban Outfitters ▼ -0.26 | VF Corp ▼ -0.10 | Quiksilver ▼ -0.12 | Zumiez ▼ -0.60 | Macys ▼ -0.74 | Tillys ▼ -0.22 |
Ticker Sponsor
Readers Say
Always a good daily read
Always a good daily read

Shop-Eat-Surf creates a good source of timely information about the industry. The site makes all types and size companies feel part of a community where everyone is stoked to hear about other companies successes and ideas. It is always a good daily read.

- By Ted Li, VP of North America, Oakley
Executive Edition rules
Executive Edition rules

“Shop-Eat-Surf” is now officially, the first stop in the morning for industry news. Accurate reporting, no sensationalism, and just the facts. Refreshing support to an incredible industry with a very bright future. Tiffany has cemented her role in the industry....the site is thought provoking, and inspirational. Learning the stories of others is incredibly useful. Great way to connect the retail community with the wholesale and financial, instantly and nationwide. ... And the Executive Edition rules.

- By Bob Hurley, Chairman, Hurley International
Industry Insight

New business info and advice from QCS GRAPHICS, PROCOPIO, SHACC and FSG LAWYERS.

Details on Industry Insight.


Tiffany Montgomery
Print This Article

Macy's sales fall in weak environment

By Tiffany Montgomery
August 13, 2008 7:39 AM

Macy's reported a tough second quarter this morning with total sales falling 3 percent to $5.7 billion. Same-store sales fell 2.1 percent.


Profits fell slightly to $73 million vs. $74 million the the same quarter last year.


The company lowered its earning forecast for the year, citing weak consumer spending. The company expects earnings per share for the year to be in the range of $1.70 to $1.85. Analysts had expected $1.86 per share for the full year.


Separately, the Commerce Department said that July's retail sales fell 0.1 percent from June, the weakest showing in five months.


However, retail sales in July were 2.6 percent higher than July, 2007.

 

 


More on: Macy's, forecast, sales

Articles You Might Have Missed