Macy's Makes 7-Year Low After Q2 Report

Macy's Inc M shares are trading lower by $2.13 (9 percent) at $20.90 in Thursday's session.

Although the company posted a Q2 EPS beat of 2 cents along with a slight sales beat, the Street is concerned over its comps that were down 2.5 percent.

After a lower open, Macy's found sellers just over Wednesday's low ($22.78), reaching $22.85, then collapsed. As of 11:36 a.m. EST, it has exceeded its seven-year low from July 11 ($20.85), so far reaching $20.72, and is attempted to reenter the $21.00 handle.