Why Macy's Stock Was Falling Today

Sales growth disappointed in the second quarter.Shares of Macy's (M -12.15%) were pulling back today after the department-store operator issued a weak sales result in its second quarter, even though profits were strong. As a result, the stock was down 12% as of 11:24 a.m. ET.Macy's is still shrinkingThe retailer reported a revenue decline of 3.8% to $4.9 billion, which was well below estimates at $5.12 billion. Comparable sales were down 3.3%, showing that the business is continuing to lose customers in wha ...