Consumer
Macy’s, Abercrombie Sales Disappoint in Tough Holiday Season
- Department store now sees 4Q sales at or below prior forecast
- Company’s 50-store strategy to be expanded to 75 more stores
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Macy’s Inc. issued a downbeat outlook for sales in the current quarter, a sign that executives might have been too optimistic about their expectations for a solid holiday shopping season.
America’s largest department-store operator said it’s forecasting net sales in the current quarter to be at or slightly below the $7.8 billion to $8 billion executives were expecting as of last month. Analysts surveyed by Bloomberg are anticipating $7.8 billion.