"weaker-than-expected" consumer spending does not augur well for Christmas
An ominous portent for retailers, Macy’s has slashed its annual profit outlook.
While Macy’s has withstood much sales pressure compared to some of its competitors, ‘weaker-than-expected’ consumer spending – how Macy’s Karen Hoguet termed it in a recent conference update – does not augur well for the vital Christmas period.
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