Macy’s, Dillard’s lead rout in retail stocks sell-off

by MR Magazine Staff

Shares of retailers took a thrashing Wednesday with Macy’s and Dillard’s leading the rout, tumbling by 16 percent and 10.8 percent, respectively. In addition, JC Penney shares fell 8.7 percent, Kohl’s fell 5.8 percent and Nordstrom fell 5.5 percent. The reasons: retailers are grappling with higher commodity costs and tariffs as the Trump administration escalates its trade war across the globe, and stores are also struggling to grow sales amid declining foot traffic and increased competition online. Read more at CNBC.