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M - Weak Apparel Spending in January Underscores Macy's Kohl's Struggle
Macy's Inc
Friday's retail spending report from the U.S. Commerce Department's was disappointing news for shareholders of department store chains like Macy's(NYSE: M) and Kohl's(NYSE: KSS).
Although January's total retail consumption improved by a seasonally adjusted 0.3% from December's levels, spending at clothing stores fell by 3.1%. That was the largest drop for the category since 2009.