By  on August 13, 2014

Macy’s Inc. kicked off the second-quarter retail earnings season on a disappointing note with profits that fell short of analysts’ expectations.

Investors were troubled by a reduction in the retailer’s projected comparable sales for the year, contributing to a $2.81, or 4.7 percent, drop in the firm’s stock to $56.95 as New York Stock Exchange trading opened Wednesday.

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