Department store stocks lower after Macy's reports

|By:, SA News Editor

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%.