Business insider reports that Macy's claimed 64 cents in adjusted earnings per share, which is a drop from 80 cents in the same quarter last year, and below the consensus estimate for 76 cents, according to Bloomberg. The figures paint a bleak outlook going forward, Bloomberg said.
In a statement, CEO Terry Lundgren said, "We are disappointed in our second quarter results, which were impacted by a variety of factors, both internal to the company and in the macroeconomic environment," according to Business Insider.
Macy's are located in Danbury, Stamford and Trumbull.
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