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Why Macy's Inc. Stock Was Sliding Today

TheMotleyFool

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Why Macy's Inc. Stock Was Sliding TodayPhoto, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/add1012b-1b24-4eb2-aba0-77ab52c7f8ad.png

Shares of Macy's, Inc. (NYSE: M) were heading lower today on a broader sell-off among retail stocks.

While there was no direct news on Macy's, department store stocks sold off after Nordstrom Inc's (NYSE: JWN) attempt to go private appeared to hit a roadblock.

As of 11:43 a.m. EDT, Macy's shares were down 5%, while Nordstrom, J.C. Penney (NYSE: JCP), and Dillard's (NYSE: DDS) were also down sharply.

Source: Fool.com