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Retail news from around the globe

Trade war hits Macy’s earnings Macy’s has cut its full-year forecast as second-quarter earnings of US28¢ a share badly missed Wall Street analyst estimates of US45¢. The retailer has been heavily discounting merchandise and has closed more than 100 stores since 2015. The largest US department store operator, whose flagship building in Manhattan is a major tourist attraction, blamed a bigger-than-expected decline in tourist spending for the shortfall, along with weak demand for its own-bran