Macy’s and the Consumer Challenge

Macy’s shares skidded after the world’s largest department store chain reported lower-than-forecast earnings last quarter.

And that’s not all.

It cut its full year outlook, saying consumer spending was slower than expected over the past three months.

Now, some economists fear that the slip in sales at Macy’s may foreshadow more disappointing earnings at more of the nation’s big retailers.

Courtney Reagan has the story.

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