Retailers Tumble as Macy's Revised Forecast Hits Stocks: Chart

Macy's Cuts Profit Forecast: Where Did the Shoppers Go?

Slow foot traffic at shopping malls sent the shares of Macy’s Inc. tumbling after the retailer cut its profit forecast for this year and posted first-quarter revenue that missed analysts’ estimates. The disappointing results come after Gap Inc. reported weak same-store sales earlier this week. With consumers not spending, investors are taking note: Retail stocks fell across the board Wednesday amid the gloom.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE