Macy’s Inc. reported a decline in first-quarter sales and profit on Wednesday, but still managed to surpass Wall Street expectations. The department store chain, however, revised its full-year profit forecast downward, citing more cautious consumer behaviour and the rising cost impact from US trade tariffs.Sales for the three months ended May 3 dropped to $4.79…
In an effort to stimulate domestic consumption amid ongoing trade tensions with the United States, China has lowered the minimum purchase amount required for foreign tourists to qualify for tax refunds. Starting Sunday, international travellers can apply for tax rebates on purchases of just 200 yuan (about $27) made at the same store on the…
Delta Air Lines on Monday cut its financial forecast for the first three months of the year, saying that growing economic concerns among businesses and consumers had lowered demand for domestic travel. The airline’s warning was the latest sign that the U.S. economy, or at least perceptions of it, have been weakening in part because…