The Latest: Analyst says colliding events hit Macy’s

NEW YORK (AP) — The Latest on retail sales (all times local):
12:30 p.m.
A prominent retail analyst says that the shift to online spending as well as the volatile stock market hurt Macy’s during the holiday. Sales numbers released Thursday are sending shares of the retailer down by more than 18 percent.
Ken Perkins of Retail Metrics says the two combined elements were an obstruction for Macy’s during the most critical period of the year for retailers.
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