Macy's cuts sales forecast as department stores struggle to draw shoppers

Macy's logo is seen on a store in Manhattan, New York, United States of America, on July 5th, 2024.Macy's cut its full-year sales forecast Wednesday, as the department store operator said it is contending with selective shoppers and more promotions.The retailer posted a mixed quarter, as it topped Wall Street's earnings expectations but missed on revenue.Macy's said it now anticipates net sales of between $22.1 billion and $22.4 billion, which is lower than the $22.3 billion to $22.9 billion range it had pr ...