Macy's Shares Sink After It Trims Full-Year Sales Forecast
- 5 years ago
Macy’s cut its full-year comparable sales forecast on Thursday while year-end sales growth at rival Kohl’s disappointed investors, signaling retailers’ continued struggle to keep up with a shift towards online shopping.
Target emerged as a bright spot with a strong sales performance during November and December, but its shares were still dragged down by peers.
Shares at Macy’s tumbled 16 percent in pre-market trading on Thursday, Kohl’s fell over 5 percent, and Target was down over 1 percent.