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November 16, 2007
Macy's Lowers Q4 Guidance; Cites Slowdown In Women's
Macy’s joined other major retail chains in lowering its expectations for the rest of the year, saying that it expects fourth quarter sales to grow 1% at most, or possibly drop by as much as 2%.
The prediction came after Macy’s released solid third-quarter earnings of $33 million, compared to a loss of $3 million a year ago.
The lowered expectations are due to a slowdown in women’s apparel and a lack of new fashions, the department store chain said.
Posted by Blacks on November 16, 2007 09:47 AM
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