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REFILE-UPDATE 5-Macy's cuts full-year forecast, sends shivers through retail

2015-11-12 13:24:51| Jewelry - Topix.net

Warm weather, low spending by tourists and a pileup of unsold inventory prompted Macy's Inc to cut its full-year forecast on Wednesday, raising wide concerns about the retail sector's financial health. Macy's in a quarterly report also said it would not create a real estate investment trust for its stores, disappointing some investors and helping to push down shares 14 percent for the day.

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