- Department store stocks trade lower after Macy's misses revenue and profit estimates with its Q2 report.
- During the company's earnings call (webcast), Macy's execs point to a "crowding out" of discretionary spending by consumers opting for new automobiles and home purchases or improvements.
- Sector watch: Dillard's (DDS) -2.5%, Stage Stores (SSI) -3%, The Bon-Ton Stores (BONT) -1.3%, Sears Holdings (SHLD) -1.5%.
Department store stocks lower after Macy's reports
Aug 14 2013, 13:48 ET