Macy’s misses quarterly net sales expectations

(Reuters) – Macy’s on Monday missed Wall Street expectations for third -quarter sales in its preliminary results, as steep promotions failed to attract customers who have turned selective on purchases.

Net sales decreased 2.4% to $4.74 billion, compared to analysts estimates of $4.77 billion, according to estimates compiled by LSEG.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Arun Koyyur)

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