Macy’s Shares Drop 14% on Weak Holiday Sales
The retailer posted a 2.1% same-store sales decline, and lowered earnings guidance, as it continues to struggle with the shift to online shopping.
Tiffany Reduces Guidance Due to Poor Holiday Sales
The luxury jeweler cut its earnings guidance for the fiscal year ended January 31, lowering adjusted earnings by about 10%.
Holiday Sales Growth Will Slow This Year
The National Retail Federation said that holiday sales should increase 3.7%, to $630.5 billion, this year, a deceleration from 2014's growth.