Matthew Waterman
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Matthew Waterman in Brand Power,

Macy's Stock Deflating On Poor 3rd Quarter Results

Macy's (M) stock was hit hard today after the company reported poor numbers. The company reported earnings of 56 cents per share, down 8% from last year. This the third straight quarter that sales have fallen. The company also issued guidance through the end of the year that disappointed analysts.

The poor performance also took down other stocks in the sector including Dillard's (DDS), Kohl's (KSS), and Nordstrom (JWN).

Macy's closed down -$6.58 today, or almost a 14% drop to $40.44. Dillard's closed down $7.24 to $81.90, Kohl's closed down $2.44 to $43.16, and Nordstrom closed down $2.41 to $62.32.