by Justin Spittler
Casey Research
One of America’s key industries just gave us another warning sign…
Last Wednesday, stock in Macy’s (M)—the largest department store in the U.S. and an iconic American brand—plunged 15%.
The next day, department store Kohl’s (KSS) fell 9%…
And on Friday, high-end retailer Nordstrom (JWN) joined the bloodbath, dropping 13%.
The massive selloff—which the media is calling the “Retail Wreck”—was due to terrible first-quarter results.