By  on November 12, 2008

In a high-stakes gamble, Macy’s Inc. has doubled down for the fourth quarter.


Unlike many retailers, the department store on Wednesday affirmed its expectations for the full year even as it reported a net loss of $44 million in the third quarter ended Nov. 1. The guidance leaves the vast majority of its projected earnings for the fiscal year dependent on fourth-quarter results and the whims of increasingly skittish consumers, who appear more reluctant than ever to part with disposable dollars.

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