Just imagine running a retail business right now. There's a decent amount of good news on the economic front—particularly on jobs—but a number of companies are still not getting much traction.
Macys second quarter earnings miss is a good example of this. Comparable store sales were up 3.4 percent, about in-line with expectations. Same-store sales for the year are now projected up 1.5 to 2.0 percent, below previous guidance of 2.5 to 3.0 percent.
Macy's has only missed expectations one quarter in the last 28 (7 years), according to RetailMetrics. That's quite a string! With today's miss, they have now missed twice in the last five quarters.