Macy’s, Abercrombie Sales Disappoint in Tough Holiday Season (2)

Macy’s Inc. issued a downbeat outlook for sales in the current quarter, a sign that executives might have been too optimistic about their expectations for a solid holiday shopping season.

America’s largest department-store operator said it’s forecasting net sales in the current quarter to be at or slightly below the $7.8 billion to $8 billion executives were expectingas of last month. Analysts surveyed by Bloomberg are anticipating $7.8 billion.

Shares of Macy’s fell 5.8% in Monday trading in New York. The company’s shares fell 16% last year, compared with a 12% gain for the S&P Midcap 400 Index.

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