Macy’s Blames “Tepid Spending” On Revenue Miss: Same Store Sales Tumble; Slashes Guidance
by Tyler Durden
ZeroHedge.com
11/11/2015
The “unexpected” weakness among US consumption, that segment accountable for 70% of US GDP, continues this morning when moments ago Macy’s reported a trifecta of weak data, reporting a miss on Q3 sales which came at $5.87 billion below the $6.1 billion expected, and down from the $6.2 billion a year ago, but also a plunge in comparable store sales which tumbled by 3.9%, far worse than the expected drop of -0.4%, and nearly three times as bad as the 1.4% drop a year ago.
The Rest…HERE
