Macy’s sales slip, says shoppers wary of spending

NEW YORK • Macy’s Inc. reported a disappointing profit for its second quarter and cut its outlook for the year on Wednesday. The department store chain blamed shoppers’ reluctance to spend for a rare slip in sales. Its shares fell nearly 5 percent in regular trading. Over the past year, its stock is up almost 27 percent. The second-quarter weakness raises worries about consumer spending, an important part of the economy, and how other merchants fared during the spring and early summer. Macy’s, t...

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