Macy’s Inc. sank the most in more than eight months after cutting its forecast for earnings this year and posting second-quarter profit that trailed analysts’ estimates amid an unexpected sales decline.
One day after regaining its third investment-grade rating, investors are already betting on further upgrades for Macy’s Inc.
Macy’s Inc., the second-largest U.S. department-store chain, boosted its annual profit and sales forecasts, helped by a strategy to better tailor merchandise to local tastes.
Federal Reserve Chair Janet Yellen is concerned that the standard models central banks use to forecast inflation may be broken.
Fewer Americans than forecast applied for unemployment insurance payments last week, pointing to an improving labor market that will help the economy regain momentum following the harsh winter.
Americans look to be in the mood to shop this holiday season as their buying power gets a lift from more plentiful jobs and cheaper gasoline.
"When you're not selling boots, it's going to hurt your business."
- Karen Hoguet on Nov 13, 2014