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Friday, 12 May 2017 - 10:07
Sliding sales stoke fears for US department stores
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Weaker-than-expected sales at several US department store chains reignited concerns about the US retail sector and prompted investors to offload shares.

Macy's said like-for-like sales fell 4.6% in the first quarter compared with the same period last year.

The decline sent shares in Macy's, which also owns Bloomingdales, down 17% on Thursday.

At Kohl's, like-for-like sales slid 2.7% and were down 0.8% at Nordstrom.

 

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