Weak Sales Store Up Trouble for Macy’s; Shares Plunged 13%

Another disappointing quarter brings on another big selloff for Macy’s (M). After posting fiscal 3Q financial results last night that included a steeper-than-expected drop in sales and a forecast for declining results for the all-important fiscal 4Q (which is fueled by holiday shopping), the department store chain plunged more than 13% to just under $41. […]