| Home | News Briefs | U.S. | World | Celeb Buzz | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird & Offbeat |
|
November 12, 2008 12:25 p.m. EST
Linda Young - AHN Editor Cincinnati, OH (AHN) - Department store giant Macy's Inc. posted a third quarter loss of $44 million prompting the company to slash its 2009 budget for capital expenditures by nearly half. Cincinnati-based Macy's is the nation's second-largest department store chain. Sales dropped by 7 percent because of the nation's slumping economy. Still, the $44 million loss at a net 10 cents per share was less than the 11 cents to 19 cents per share loss that analysts had forecast. During the same quarter last year, Macy's had earned a profit of $33 million, or 8 cents per share. Despite this loss, Macy's is still predicting it will earn a slight profit for the year.
|
|
|
||
|
|
||
| Home | News Briefs | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat |
© 2009 AHN |
|
|
|
||
| Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services | All Rights Reserved | |