Jan 4 Macy's Inc, the biggest U.S.
department store operator, cut its 2016 adjusted profit
forecast, largely due to weak holiday season sales.
The company's shares were down 8.9 percent at $32.63 in
extended trading on Wednesday.
Macy's cut its adjusted profit forecast for the year ending
Jan. 30 to $2.95-$3.10 per share from $3.15-$3.40 per share it
The company said its comparable sales on an owned plus
licensed basis fell 2.1 percent in November and December. On an
owned basis, comparable sales fell 2.7 percent during the
(Reporting by Gayathree Ganesan in Bengaluru; Editing by Sriraj