Macy's stock is tanking because it put too many clothes on sale during the spring..

[r2d2]

Macy's had a rough spring. It's the latest sign of pressure on the battered department store sector. Macy's profit fell 48% during its spring quarter compared with the same period a year ago, the company said in earnings on Wednesday. Macy's lowered its profit expectations for the remainder of the year. Investors quickly sold off Macy's (M) stock, driving it down as much as 16% during early trading. Heading into Wednesday, shares of Macy's had fallen 34% this year. During the spring, Macy's said it had a "fashion miss" in its key private-label athletic brand and struggled to sell warm weather gear. International tourism to its stores also slowed down, as the global economy slows, according to the company. That left Macy's with too many clothes on the shelves, forcing the company to put them on sale to clear out inventory for the fall. Discounts pinched Macy's quarterly profit.

Macy's weak quarter signaled broader woes for department stores. Sales at department stores dropped 4.3% over the past six months compared with a year prior, the Commerce Departmentsaid in July. Kohl's (KSS), Nordstrom (JWN) and JCPenney (JCP) dropped sharply Wednesday. They report earnings in the coming weeks.

Amazon (AMZN), big box retailers such as Target (TGT) and Walmart (WMT) and new clothing and home brands that got their starts online have squeezed traditional department stores. Discount stores such as TJMaxx are also expanding rapidly, drawing customers away from Macy's and others with low prices on a constantly-changing array of clothes. Macy's has tried to combat the rise off discount chains by opening Macy's Backstage, its own lower-priced arm, within some stores.

 

Tariffs on goods from China are another concern for Macy's and other retailers.

President Donald Trump said earlier this month that he would add a 10% tariff on an additional $300 billion of Chinese-made products on September 1. However, on Tuesday, the top US trade negotiator said that new 10% tariffs on Chinese-made consumer goods including cell phones, toys and video game consoles would be delayed until December 15.

Trump said the move was designed in part to avoid any pain for consumers heading into the holiday season.

[xano917]

asalu yela nadusthundhio e store... yeppudu poyina khali ga untundhi 

[shaw183]

6 minutes ago, xano917 said:

asalu yela nadusthundhio e store... yeppudu poyina khali ga untundhi 

nalla danam flush chesthuntaru induloki

[Amrita]

8 minutes ago, xano917 said:

asalu yela nadusthundhio e store... yeppudu poyina khali ga untundhi 

So many stores closed. Many are in process of getting closed. Stylists are not designing as per trend. All retail shops has same designs. Many issues here. It works well only in west coast.

#Ex Contractor 

[JollyBoy]

4 minutes ago, Amrita said:

So many stores closed. Many are in process of getting closed. Stylists are not designing as per trend. All retail shops has same designs. Many issues here. It works well only in west coast.

#Ex Contractor 

Designation ceo na

[xano917]

1 minute ago, Amrita said:

So many stores closed. Many are in process of getting closed. Stylists are not designing as per trend. All retail shops has same designs. Many issues here. It works well only in west coast.

#Ex Contractor 

SFO ?

[Amrita]

2 minutes ago, xano917 said:

SFO ?

Lorain, Ohio 

[Anta Assamey]

[LazyRohit]

9 minutes ago, Amrita said:

So many stores closed. Many are in process of getting closed. Stylists are not designing as per trend. All retail shops has same designs. Many issues here. It works well only in west coast.

#Ex Contractor 

ne lanti rich kids konakapothe aallu matram em chestaru 

[Amrita]

Just now, LazyRohit said:

ne lanti rich kids konakapothe aallu matram em chestaru 

Nenu em anyayam cheyatledey .. i shop in bloomingdales. Both same same no ? 

8 minutes ago, JollyBoy said:

Designation ceo na

Dokku full stack dev