Macy's reported difficulty pulling shoppers through its door in its most recent quarter, underscoring just how challenging the holiday shopping season will be for some retailers.
A number of retailers are struggling with weak sales due to tough competition online.
Macy's revenue at stores open at least a year - a key indicator of performance - fell for the 11th straight quarter. Still, its third-quarter earnings more than doubled as it cut costs by eliminating jobs and closing some locations. That cheered investors, who sent Macy's shares up 11 percent Thursday.
It's been a tough year for retail overall, with store closings on pace to top the worst year of the recession and several well-known chains filing for bankruptcy protection. Mall shopping is down, and that hits department store chains particularly hard. That means the upcoming holiday season is even more critical than usual for retailers.
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