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The warning came from competitors: earlier Thursday, Macy’sM -17.01%

and released earnings results so disappointing that they sparked a selloff in most retail names. By Thursday’s closing bell, these names had lost millions of dollars in value. And unfortunately for shareholders, the bleeding is poised to continue well into the after-hours trading session. The company reported first quarter earnings results that, despite a top- and bottom-line beat, included weaker-than-expected same-store sales that in turn spurred further selling.

Nordstrom reported Thursday afternoon that it recorded $3.35 billion in first quarter revenue, a figure that edged above the $3.34 billion Wall Street consensus and marks an increase over the $3.25 billion recorded on the top line during the same time in 2016. Net income for the quarter came in at $63 million, a 37% year-over-year jump that resulted in earnings of 37 cents per share. Excluding one-time items, earnings came in at 43 cents per share, easily clearing the 27-cent per-share Wall Street…