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Macy's Posting Steep Loss In Late-Day Trading

By FashionUnited

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Shares of Macy's (M) have moved sharply lower over the course of the trading day on Thursday, plunging by 17 percent. With the drop, Macy's has hit its lowest intraday level in over five years. The sell-off by Macy's comes after the department store operator reported first quarter earnings and sales that came in below analyst estimates.

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