And it's worth noting, for the growing number of investors shorting retail stocks, that it can take a very long time to kill a retailer. Looking ahead, as the company's sales-driving initiatives kick in and its real estate deals free up more cash, Macy's stock could bounce back in a big way. Consumer goods, health care and utilities stocks eked out small gains.
The company opened two new Macy's stores, 10 freestanding Bluemercury locations and 11 Backstage shop-in-shops in the period.
The Standard & Poor's 500 index fell 5.19 points, or 0.2 percent, to 2,394.44.
The Dow Jones Industrial Average dipped 23.69 points (0.11 per cent) to 20,919.42. The Nasdaq composite finished at a record for the fourth day in a row as it rose 0.1 percent to 6,129.14.
Disappointing results from the two chains sent a broader swath of stocks tumbling in the USA this week, with investors growing more pessimistic on the beleaguered industry. The Russell 200 index dropped 9.39 points, or 0.7%, to 1,390.20. Britain's FTSE shed early gains to end flat.
Other department store chains are having similar problems: Kohl's Corp. reported its fifth straight quarterly sales decline Thursday.
Kohl's reported similarly bleak sales in the first quarter. Dillard's shares slumped $10.13, or 17.5 percent, to $47.77.
Kohl's is focusing heavily on activewear from Under Armour and Nike, which it said grew by a percentage in the mid-teens in the quarter.
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If Ronaldo does claim his fifth gong this year then the race to six between the arch-rivals is a mouthwatering prospect. Madrid are favourites for the La Liga and Champions league glory this term with Ronaldo leading the way.
Shares in Nordstrom also declined, sliding $3.80, or 7.6 percent, to $46.21.
Fears about the health of the U.S. retail sector spread to rival department store chains, with shares in Kohl's falling more than 5% and JC Penney slipping more than 8%.
J.C. Penney is due to report quarterly results on Friday.
USA department stores have shed more than 32,000 jobs over the 12 months to April, according to U.S. government estimates. Technology, financials and materials companies have posted the biggest earnings growth. At the same time, off-price giants such as TJ Maxx parent TJX Cos. and beauty superstar Ulta Beauty Inc. are also taking market share from Macy's and its ilk.
ANALYST'S VIEWPOINT: "Trump's decision to fire Federal Bureau of Investigation director Comey continues to reverberate, with markets uncertain whether this could distract the government from its tax reform agenda", said Mizuho Bank in a daily report. Total sales for the 53-week fiscal year are predicted to be down by 3.2% to 4.3%.
CURRENCIES: The dollar weakened to 113.70 yen from 113.86 yen in late Thursday trading.
Kohl's efforts to speed up its supply chain, localize merchandise in stores and use stocks in stores to fulfill online orders helped keep inventories low and boost margins, Chief Executive Kevin Mansell said on a conference call. Germany's DAX fell 0.4%, while France's CAC 40 edged down 0.3%.
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