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Macy's sounds holiday alarm for retailers

Sluggish fall season, slow business will force it to go all-out on discounts during the festive season

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A girl looks at pajamas while shopping at a Walmart store in Secaucus, New Jersey, on Nov 11, 2015. When Macy's, a store closely associated with Christmas, says there is trouble brewing ahead of the holidays, it is enough to send the world of shopping into a tailspin.

New York

WHEN Macy's, a store closely associated with Christmas, says there is trouble brewing ahead of the holidays, it is enough to send the world of shopping into a tailspin.

The retailer of "Miracle on 34th Street" warned on Wednesday that its stores were awash with merchandise

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