Shares of retailers and other consumer-services companies fell after another major retailer reported another acute slowdown in sales.
Shares of Macy's slid after the department store said sales in stores open a year or more fell by more than 5% in the latest quarter. "Don't count us out, we're not dead," said Macy's chief financial officer on a conference call with analysts, a reflection of how bad the situation has become for bricks-and-mortar retailers.
Continue Reading Below
Outside the online stores, the retail industry is in dire straits, by any measure. Recently, Abercrombie & Fitch has reportedly put itself up for sale, while Sears Holdings has warned that it may struggle to continue as a going concern.
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
May 11, 2017 16:27 ET (20:27 GMT)