Macy's sales surge slows even as store pushes ahead with mobile checkout and other changes [USA TODAY]
Macy's Inc (M)
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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 its most recent quarter, signaling that the pay off from its efforts at reinvention may have a ways to go. The department store now allows shoppers to check out via their smartphones, has expanded its lower-cost offerings, and is experimenting with new store designs. Those moves may have helped lead to a slight 0.5 percent increase in sales at stores open for the last 12 months on an owned and licensed basis. But that rise paled in comparison to the start of the year, when sales climbed 4.2 percent, a welcome reversal after the retailer had experienced a downward spiral over the previous four years. The latest performance seemed to unsettle investors, and the company's share price dropped 12 percent to $36.69 as of 10:22 a.m. ET on Wednesday. While there are good reasons for the slowdown in sales growth, and although underly
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