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August 15, 2007
Macy's Q2 Profit Plummets 77 Percent
Macy’s second quarter profits fell 77 percent to $74 million, leading it to cut its outlook for the rest of the year. The company, which just changed its name from Federated Department Stores, cited weak sales and acquisition adjustments for the loss.
Macy’s acquired May Department Stores in 2005 and has been in the process of rebranding them under the Macy’s banner.
Posted by Blacks on August 15, 2007 01:57 PM
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