Macy’s Soft Sales Outlook Shows Turnaround Bid Is Dragging On

Macy’s Inc. gave a more downbeat outlook for sales and profit this year than Wall Street had been expecting, a sign executives are cautious about the American consumer.

The country’s largest department-store operator said it’s forecasting net sales in the current fiscal year between $21 billion to $21.4 billion, below the average estimate from analysts surveyed by Bloomberg. That forecast includes the decrease in revenue from the closure of more than 60 Macy’s stores last year.

Macy’s also said it’s expecting sales from e-commerce and stores that have been open for at least a year to fall as much as ...