Macy's Posts Lower Quarterly Profit
Wednesday, August 15, 2007
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Retailer Macy's Inc. (M) reported lower quarterly profit on Wednesday as sales fell.
Earnings came to $74 million, or 16 cents a share, for the second quarter ended August 4, from $317 million, or 57 cents a share, a year earlier.
The parent of Macy's and Bloomingdale's said sales fell 1.7 percent.
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