Macy's, Inc.

Macy's key sales figure falls for 10th straight quarter

Macy's key sales figure falls for 10th straight quarter

Macy's saw an important sales figure fall again in the latest quarter, its tenth such decline in a row. The decrease wasn't as bad as Wall Street analysts expected, but shares in the department store chain fell in premarket trading Thursday.

Traditional department stores have been hurt as more people shop online or at discount stores. Macy's has cut jobs and closed some stores to try to reverse falling sales. It has also started an off-price brand, and it plans to launch a loyalty program in the fall that it hopes will bring more shoppers through its doors.

The company said sales fell 2.8 percent at established stores during the second quarter, which was better than the 3.3...

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