07.01.2016 - Macy's showed poor results during the holiday quarter

US retailer Macy's announced its intention to reduce the costs by $ 400 million during the holiday quarter and did not meet the company's expectations. In November and December the company's sales fell by 4.6% compared to last year. Over the past year, the company's shares have fallen by 44%, and a negative trend may continue due to the plans to close 36 stores. In addition, the company plans to cut about 3 thousand jobs. We expect a further fall in prices by 10-15% in the medium term.

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