With Macy’s continuously denoting the impact on its results from international travel and spending, the recent Brexit vote will likely not bode well for the remaining 2016 results. Tourist spending accounts for some 5% of the retailer’s total net sales at its flagship Herald Square location. The stronger dollar has been a persistent problem for the company over the last 3 quarters, and with the USD gaining another $.02 against the euro and British pound sterling plunging against the USD, the situation for Macy’s likely has exacerbated..
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