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Department store stocks lower after Macy's reports

  • 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%.
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