Macy's, other retailers' shares tumble after weak holiday sales results - Fox Business
Foxbusiness.com - Thu 10 Jan 16:47 GMT

Macy's, other retailers' shares tumble after weak holiday sales results - Fox Business

Macy's also cut its outlook for the year.

  Department store shares tumbled Thursday after Macy’s turned in disappointing same-store sales during the critical holiday shopping season.

  Macy’s reported a paltry 1.1 percent gain in same-store sales and online sales during the November-December period.

  The company cut its outlook for same-store sales in the current fiscal year to 2 percent, down from a range of 2.3 percent to 2.5 percent.

  Kohl’s shares also tumbled as the company turned in a weak rise in same-store sales during the critical holiday shopping season.

  Kohl’s same-store sales during November and December edged up 1.2 percent, far weaker than its 2017 gain of 6.9 percent.