By Money & Finance
Report four consecutive quarters of sales growth at existing locations? Boost earnings guidance for the year? Invest more than $200 million renovating a specific set of stores (called "magnets") with new technology and more varied merchandise? Expect to hit $1 billion in mobile sales this year? Apparently. But we're also guessing a 7.2% drop in share price isn't part of the job description.
So why did investors knock Macy's yesterday? Because everything's relative.
Bloomberg's Sarah Halzack points out investors have set a high bar for retailers given a high-flying economy and strong consumer sentiment. Plus, keep in mind financials are often compared year-over-year. Q3 2017 for Macy's was "grisly." The true test will be how it performs during this holiday season.