By and  on May 15, 2008

Macy's Inc. took it on the chin in the first quarter of 2008, posting a loss of $59 million, or 14 cents a share, and citing weak sales in women's, the difficult economy and consolidation costs.

Sales for the quarter ended May 3 declined 2.9 percent to $5.75 billion and fell 2.6 percent on a comparable-store basis.

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