Macy’s Turns in Dismal First Quarter, Could Be in ‘Serious Trouble’


Somewhere, Donald Trump guffaws.

Macy’s has lowered its sales and earnings outlook for the year after a disappointing first quarter that has CNN Money saying the retailer is in “serious trouble.” The article says that same-store sales have fallen for five straight quarters, which caused the company’s stock to plunge 15 percent, a 52-week low. That news probably came as a jolt of schadenfreude for presumptive Republican presidential candidate Donald Trump, whose clothing line was dumped by Macy’s last year. The retailer’s decision to do so prompted Trump to call the retailer a “very disloyal company.”

Read more at CNN Money