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Macy's woes could signal trouble for retailers

Macy's woes could signal trouble for retailers

Macy's poor holiday showing could be an early sign of trouble for the retail industry.

After a disappointing November and December, the department store chain said it was slashing 4,800 jobs and closing 40 stores, including a shop at the Irvine Spectrum.

The travails of Macy's, which blamed warm weather and slower spending by international tourists, could also be reflected at many other retailers, analysts said.

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"It was not a good holiday season," said Ron...

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