Macy’s tumbles most in a decade after cutting profit forecast

Macy’s plunged the most in more than 10 years after the department-store chain cut its annual profit and sales forecast, saying its sales momentum during the holidays weakened in mid-December.
Comparable sales will grow about 2 percent, down from a previous outlook of at least 2.3 percent, the company said in a statement Thursday. Profit will be as much as $4 a share. It had previously forecast as much as $4.30.
With today’s slide, the company erased its entire gain in 2018. Macy&rsq