Macy's Hits 52-Week Low For Second Time In A Week, Citing Difficult Retail Environment

Jun 30, 2008 (financialwire.net via COMTEX) -- M | Quote | Chart | News | PowerRating -- June 30, 2008 (FinancialWire) Shares of Macy's Inc. (NYSE: M | Quote | Chart | News | PowerRating) hit a 52-week low for the second time in a week, capping off a week-long slide amid a difficult retail environment for the department store operator.

The company said that it would publicly offer $650 million in senior notes due 2015 and could use proceeds to pay down debt.

Since Monday, shares have fallen about seven percent. Shares fell five cents to close at $19.53 after earlier hitting a low of $19.02. The stock had traded between $19.18 and $45.50 during the past year.

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