Macy's Stock Sinks as It Warns Underperforming Stores Will Hurt Results

Key TakeawaysMacy's said its fourth-quarter results would be pulled down by poor performance by some of its stores.The biggest U.S. department store operator warned that comparable store sales would be flat, and overall sales would be at or below its earlier guidance.Last February, Macy's announced it would be closing 150 locations over three years as it deals with weak sales. Macy's (M) shares tumbled nearly 7% Monday morning when the biggest U.S. department store chain warned fourth-quarter results would ...