Retail Roundup: Macy's Reverses, Dollar General Plunges, Target Downgraded

Macy's adjusted earnings fell 48% to 56 cents per share while sales dropped 7% to $4.98 billion for Q1 2019, leading to a cut in its full-year outlook. Dollar General's earnings fell for the first time in three quarters, with net sales growth slowing. Target received a downgrade from JPMorgan due to weakening consumer spending. Nordstrom reported adjusted earnings rose to 7 cents per share for Q1 2019, compared to a loss of 6 cents a year ago, and maintained its full-year outlook.