Retail shares slide as otherwise strong consumer spending didn't boost holiday sales enough
January 10, 2019 at 11:00 AM EST
A strong U.S. consumer wasn't enough for department stores to counteract the broader issues facing the industry and investors' high expectations for the holiday season. Shares of the country's biggest department stores tumbled on Thursday, led by disappointing holiday results delivered by the biggest department store in the U.S. by market cap, Macy's.