- Macy's (M) says right off the bat that sales were softer than anticipated in Q2 due to consumers pulling back on purchasing discretionary items.
- Comparable store sales fell 0.8% during the period, inclusive of Macy's typically-strong online business.
- The retailer forecasts comparable-store sales to increase in a 2.5%-4% range during H2 and sets full-year EPS guidance at $3.80-$3.90 vs. $3.90-$3.95 prior.
- Shares of Macy's -3.6% premarket.
Cautious consumers hurt Macy's sales in Q2
Aug 14 2013, 08:12 ET