- The department store sector is on watch for volatility after Macy's issues an alarming warning on sales trends.
- "We are seeing continued weakness in consumer spending levels for apparel and related categories," reads the pinpoint assessment from Macy's.
- Investors in the department store sector are already scrambling with Kohl's (NYSE:KSS) down 3.62% in premarket trading, J.C. Penney (NYSE:JCP) off 3.64%, and Nordstrom (NYSE:JWN) 2.17% lower. The damage doesn't end there with Ross Stores (NASDAQ:ROST) losing 2.6% and TJX Companies (NYSE:TJX) off by 1%. Dillard's (NYSE:DDS) and Sears Holdings (SHLD) haven't opened yet.