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Disappointing 3Q 2015 Revenue Numbers Hammer Macy's Stock

November 11, 2015: 12:00 AM EST
Shares of Macy’s stock fell 14 percent to $40.44, following the retailer’s revelation its profit and sales declined in the third quarter of 2015. According to the company, profit fell 46 percent to $118 million for the quarter ending October 31, compared with $217 million in the same quarter of the previous year. Sales dropped 5 percent to $5.9 billion, below Wall Street forecasts of $6.1 billion.
Alexander Coolidge, "Macy's sales disappoint, explores real estate options", USA Today, November 11, 2015, © USA TODAY, a division of Gannett Satellite Information Network, Inc.
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