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.
"When you're not selling boots, it's going to hurt your business."
- Karen Hoguet on Nov 13, 2014