Macy’s Inc. (NYSE:M) saw its stock fall for the fifth day in a row as investors reacted cautiously ahead of its second quarter earnings release. The company is set to announce its financial and operating results in the third week of August.

The recent decline in Macy’s stock price reflects investor skepticism following the company’s decision to close 150 stores over a three-year period. This year, Macy’s plans to close 66 stores, impacting its net sales in the second quarter compared to last year.

In the first quarter of the year, Macy’s net income dropped by 39 percent to $38 million, with total revenues declining by 4.2 percent to $4.79 billion year-on-year. Despite potential as an investment, some believe AI stocks offer higher returns with lower risk.

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Read more at Yahoo Finance: Macy’s (M) Falls on 5th Day on Investor Caution Ahead of Q2 Earnings