Macy's sales slow and shares plunge, but retailer pushed ahead with mobile checkout and other changes [USA TODAY]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: USA TODAY
The Macy's store in Herald Square (Photo: Macy's) CONNECT TWEET LINKEDIN COMMENT EMAIL MORE Macy's sales surge slowed in the most recent quarter, signaling that the pay off from the department store's efforts at reinvention may have a ways to go. The retailer is enabling shoppers to check out via their smart phones, expanding its off price offerings, and experimenting with new store designs. Those moves may have helped lead to a slight 0.5% uptick in sales at licensed and owned stores open for at least 12 months. But that paled in comparison to the start of the year, when sales were up 4.2% , reversing a downward spiral the retailer had experienced over the previous four years. The contrast seemed to unsettle investors with Macy's share price dropping 5.18% to $39.70 in pre market trading. While there are good reasons for the slowdown in sales growth, and although underlying performance is respectable, the decline in total sales and the virtua
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