Macy’s stock tanks amid department store woes
Shares of Nordstrom, Kohl’s, Dilliard’s, and J.C. Penney tanked on Wednesday after Macy’s lowered its profit outlook in an earnings miss that was indicative of challenges within the broader department store and retail sector, reports CNBC. (https://www.cnbc.com/2019/08/14/department-store-stocks-fall-on-the-heels-of-macys-dismal-earnings.html) Macy’s stock sank more than 17 per cent, while Nordstrom and Kohl’s fell more than nine per cent after the news. Shares of Dilliard’s and J.C. Penney […]
