NEW YORK | Weak holiday sales at department stores catch many off guard

10Jan - by Editor - 0 - In STL.News

NEW YORK  — Jan 10, 2019— Unemployment hasn’t been so low in years, wages are rising, consumer confidence is high and gasoline is cheap, all creating high expectations for department stores this holiday season.

That’s not what investors got in sales numbers released Thursday.
Department stores fell sharply before the opening bell, with bellwether Macy’s down nearly 19 percent after posting worse-than-expected sales in the period leading up to the holiday.

Continue reading NEW YORK | Weak holiday sales at department stores catch many off guard at STL.News.

Source link