The holiday season serves as a strong indicator for the health of the retail sector. The eight weeks from the beginning of November to the end of the year can be make-or-break for many companies.
Retailers this week, and especially Thursday, were having a tough go of it, particularly Macy's Inc. (M - Get Report) , which reported holiday numbers that failed to impress and also lowered its fiscal-year guidance.
The company said it now expects comparable-store sales to increase 2% in the year, down from its previous estimate of between 2.3% and 2.5%. Net sales are now expected to be flat year over year, down from the previous estimate of a 0.3% to 0.7% increase, Macy's said.
Earnings are expected be between $3.95 and $4 a share, lower than its previous expectations of earnings between $4.10 and $4.30.
Shares of Macy's fell 17.7% on Thursday.
Here are some others:
Shares of L Brands Inc. (LB - Get Report) were down more than 4% after the company said that net sales during the holiday season fell below analysts' expectations.
Target Corp. (TGT - Get Report) shares declined 2.9% despite reporting stronger-than-expected holiday sales while also forecasting that it will see double-digit adjusted earnings growth in the fiscal year.