Sponsors
Billabong ▲ +0.015 | PPR ▲ +0.60 | American Apparel ▼ -0.001 | The Buckle ▲ +0.19 | Columbia ▲ +8.90 | Deckers Outdoor ▲ +1.33 | Dicks ▲ +0.58 | Foot Locker ▲ +0.26 | Genesco ▲ +0.44 | Iconix Brand Group ▲ +0.02 | Jarden Corp ▼ -0.37 | Nordstrom ▼ -0.03 | Luxottica ▼ -0.19 | Nike ▲ +0.24 | Pacific Sunwear ▼ -0.039 | Skullcandy ▲ +0.08 | Sport Chalet - 0 | Urban Outfitters ▼ -0.38 | VF Corp ▲ +0.43 | Quiksilver ▼ -0.025 | Zumiez ▼ -0.41 | Macys ▼ -0.28 | Tillys ▲ +0.01 |
Ticker Sponsor
Readers Say
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
Industry Insight

AGENDA: Pre-registration and lodging specials for Vegas show, Aug. 17-19.
SIA: Cooling down NYC with annual Summer Snowdown media event.

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