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Customers stand outside Macy's store in New York, in this April 11, 2013 file photo. Macy's Inc cut its full-year same-store sales forecast August 13, 2014, after second quarter sales failed to make up for weakness in the first quarter when harsh weather kept shoppers away. REUTERS/Brendan McDermid/Files

Macy's cuts same-store sales forecast, shares drop

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(Reuters) - Macy's Inc cut its full-year same-store sales forecast, after second-quarter sales failed to make up for weakness in the first quarter when harsh winter weather kept shoppers away.

Macy's earnings for the quarter ended Aug. 2 also missed the average analyst estimate as the company discounted heavily to win business, squeezing gross margins.

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