Macy's Inc (NYSE:M) cast a pall over the retail industry Thursday when it reported weakness during the crucial holiday shopping season.
The retailer tumbled 19% to $25.80 after announcing that the holiday season started strong but weakened in mid-December and didn’t return to expected patterns until the week of Christmas.
HEAD: Macy’s Q4 earnings beat Street estimates; same-stores sales on track to return to growth in 2018
An exception to the gloom was Bed Bath & Beyond Inc (Nasdaq: BBBY), which rose 14% after saying it expects fiscal 2019 net earnings per diluted share to be about the same as fiscal 2018.
Sears Holdings Corp (OTCMKTS:SHLDQ) climbed $0.11, or 27%, to $0.50 after Chairman Eddie Lampert confirmed a Reuters report that he has made a new takeover bid of more than $5 billion for the company.
WD-40 Co (NASDAQ:WDFC) declined 7.5% after CEO Garry Ridge warned that there may be some sales volatility for its WD-40 Specialist line.
Contact Dennis Fitzgerald at [email protected]