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Why Macy's Inc Stock Dropped Today

TheMotleyFool

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Shares of Macy's (NYSE: M) were diving today, in sympathy with J.C. Penney (NYSE: JCP) after that retailer gave weak guidance for its third and fourth quarters. Both department store stocks have plummeted this year as shoppers turn to e-commerce and mall traffic is falling.

As of 11 a.m. EDT, Macy's stock was down 6.1%, while J.C. Penney was 15.3% lower.

Image source: Macy's.

Source: Fool.com