- Hamish Kumar
Macy's Announcement Sends Ripples Through Retail Sector
- Macy’s recently warned investors that its margins are shrinking, and to expect a gross profit margin between 60-80 basis points below last year's.
- The stock price dropped by 8% as a reflection of this news.
- The company’s announcement has sent shockwaves across the entire retail sector, as fears grow of Amazon’s dominance.
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