Macy's Shares Sink After It Trims Full-Year Sales Forecast

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Macy’s cut its full-year comparable sales forecast on Thursday while year-end sales growth at rival Kohl’s disappointed investors, signaling retailers’ continued struggle to keep up with a shift towards online shopping.

Target emerged as a bright spot with a strong sales performance during November and December, but its shares were still dragged down by peers.

Shares at Macy’s tumbled 16 percent in pre-market trading on Thursday, Kohl’s fell over 5 percent, and Target was down over 1 percent.

http://feeds.reuters.com/~r/reuters/topNews/~3/TMNnetkAKDQ/macys-shares-sink-after-it-trims-full-year-sales-forecast-idUSKCN1P41RW

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