Wednesday, Aug 15, 2007
77% Drop in profits at Macys!!! - that's quite a big number.
BBC: US slowdown hits Macy's profits
Iconic US department store chain Macy's has become the latest retailer to warn of flagging demand from customers.
It said profits in the three months to 4 August fell by 77% on the same period a year ago, to $74m (£37.1m), in "a more challenging economic environment".
Posted by tyrellcorporation @ 03:51 PM (156 views) Add Comment
4 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. dohousescrashinthewoods said...
Blimey.
Looks like the world economy (aka the US consumer) has stopped spending. Get those houses going up, Bernake or we've all had it.
2. Sensibleview said...
you might want to check that story. the reported decline in profits is mainly due to 'one-off' exceptional items related to merger integration expenses, and hardly reflects the underlying trend.
things certainly aren't that rosy for Macy's, but we're talking about a year-on-year decline in sales of 1%. Not great for Macy's shareholders, but hardly the armageddon scenario that you try to make out
3. Ash4781 said...
Didn't Bush say everything was fine!
4. enuii said...
Ties in with the Walmart article yesterday, the UK retail profit and sales figures will make interesting reading when they come out.