Nordstrom, Ralph Lauren, and Urban Outfitters Are Trading Lower as Macy's Explores Restructuring
Shares of upscale retail and apparel companies were moving lower on Monday after Reuters reported that retail giant Macy's (NYSE: M), the largest U.S. department store chain by retail sales, has hired an investment bank and attorneys to explore financing and debt-restructuring options.
Here's where these three companies were trading as of 3 p.m. EDT, relative to their closing prices on Friday.
The Reuters article, published on Sunday, appears to have set off a wave of selling among brick-and-mortar retail and apparel stocks.
Source Fool.com
