Macy’s and Kohl’s post disappointing results in June

NEW YORK — Analysts expected 18 top retail chains to report a modest gains in June, as high unemployment and falling consumer confidence have taken a toll on spending. Among the department store retailers reporting June same-store results so far, the results were largely mixed. Macy’s was among the retailers reporting sales that fell short of estimates. Same-store sales rose 1.2% in June, missing Wall Street’s projected 1.9% gain. “June sales were below expectations,” said Terry Lundgren, chairman, president and CEO. “In part, this was a function of a macroeconomic environment that is stagnant at best, and lower