​Macy’s Plunges On “Sharp Cut” To Full-Year Forecast; Goldman Expects Consumer Weakness To Persist – Tyler Durden

Macy’s Plunges On “Sharp Cut” To Full-Year Forecast; Goldman Expects Consumer Weakness To Persist Department store chain Macy’s missed analysts’ estimates for its quarterly revenue and lowered its outlook for sales for the full year, citing “more discriminating consumer and heightened promotional environment relative to its prior expectations.”  The department store operator said Wednesday in a statement that sales in the second quarter through Aug. 3 fell 3.8% to $4.9 billion, missing the Goldman Sachs consensus of $5.10/$5.06 billion.  “In the second quarter, we began to see the customer become even more discerning,” CEO Tony Spring said in an interview, as quoted…  — Continue at ZeroHedge News : Read More