By  on August 14, 2019

Shares of Macy’s Inc. dropped sharply Wednesday morning after the retailer missed second-quarter profit projections and cut its outlook for the year, but Jeff Gennette’s plan to bring more shoppers to the store are shaping up.

On a conference call with analysts, the chairman and chief executive officer expressed some notes of caution given a second-quarter fashion miss and tariffs, but said a new program to add 40 ThredUp shops in Macy’s stores would stir up new business.

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