Macy’s Inc. met with investors on Tuesday to lay out its strategy, but ended up triggering a new panic over the beleaguered retail sector. The department-store chain’s finance chief, Karen Hoguet, warned that Macy’s gross margins would fall about a percentage point in its current quarter compared with a year ago and decline slightly less than a point for the full financial year. The remarks sent Macy’s shares tumbling 8.2%...

Source: Wall Street Journal June 06, 2017 19:45 UTC