Macy's earnings drop

Posted online May 11, 2017 | 11:32 am

Macy's Inc. posted first-quarter earnings of $71 million, a drop from $116 million a year earlier.

Sales were $5.3 billion, down from $5.8 billion last year.

Same-store sales on an owned basis were down 5.2 percent, and on an owned-plus-licensed basis, same-store sales fell 4.6 percent.

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