Why Macy’s, Inc. (M) Crashed On Monday

We recently published a list of These 10 Stocks Already Sank in June. In this article, we are going to take a look at where Macy’s, Inc. (NYSE:M) stands against other worst performers on Monday.

Macy’s extended its losing streak to a fourth consecutive day on Monday, shedding another 4.79 percent to finish at $11.32 apiece as investors continued to dispose of shares following news that it would raise its prices across its stores to offset higher tariffs.

Although Macy’s, Inc. (NYSE:M) followed suit of other retailers that have previously guided higher prices, the possibility of lower demand for its products dampened investor sentiment.

A customer in a store trying on fashionable apparel and accessories for purchase.

“There are going to be items that are the same price as they were a year ago. There [are] going to be, selectively, items that may be more expensive, and there are items that we might not carry because the pricing doesn’t merit the quality or the perceived value by the consumer,” Macy’s, Inc. (NYSE:M) CEO Tony Spring said in an interview with CNBC following the company’s first quarter earnings results.

He added that the company is actively reducing its exposure to Chinese imports through renegotiating supplier contracts, as well as cancelling and delaying orders that do not meet their value criteria.

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Disclosure: None. This article is originally published at Insider Monkey.