Macy's same-store sales fall as consumers pull back

Wochit 1:08 mins

Macy's reported lower-than-expected sales and profit, citing consumers' limited willingness to spend on non-essentials, leading the department store chain to reduce prices on items. Carl Icahn has picked Apple as his next target. The activist investor has gone to market and according to the Wall Street Journal grabbed-up $1.5-billion in the company stock. The news has sent Apple shares soaring. This Erin Gibbs, Equity Chief Investment Officer at S&P's Investment Advisory Services, sees stocks heading higher, even with a cautionary assessment of the US economy. On a global scale, Samsung is absolutely obliterating Apple right now in terms of smartphone sales. At last count, Samsung shipped between 72 million and 76 million smartphones last quarter while iPhone sales came in at 31.2 million units.

View Comments (1)