R. H. Macy & Co. reported a...

R. H. Macy & Co. reported a $19-million net loss in its first quarter ended Oct. 29, compared to a net profit of $6.4 million a year earlier. The first-quarter loss, blamed on price-cutting and acquisition costs, occurred despite a 20% increase in sales, to $1.62 billion from $1.35 billion. Macy’s, which has been privately held for about two years, recently acquired two California fashion retailers, Bullock’s and I. Magnin. It is burdened with around $5.3 billion in debt from the leveraged buyout by management that took it private and the California acquisitions.