On the occasion of its quarterly results announcement, Macy's left its top-line forecast for the year unchanged, that is flat or up by a maximum of 1%, but lowered guidance for adjusted diluted earnings per share. Management cited a slow month of May, the weather and a drop in tourism which hurt mainly Bloomingdale's. The announcement was a blow to retail in spite of the news that the White House was to delay tariffs on Chinese imports. Shares in Nordstrom and Kohl's, which report next week, were down around 10%. JC Penney was down 8%. Macy's is trying to breathe life into its business through initiatives such as the Backstage discount concept, and the Story pop-up brand, as well as generating double-digit growth from its digital business.