Macy's is about to report earnings. Here's what you need to know

Macy's shares are down more than 50% from a year ago. The company has been hit along with other department store operators.

department stores could be in for a "sobering" holiday season, calling out the fact that, at Macy's in particular, the second quarter was "much more promotional than planned."

Retailers also have been pressured by the threat of tariffs on a wide range of consumer goods made in China. A 10% tariff was set to go into effect on Sept. 1 on clothing, apparel and other items, but has beenMacy's shares are down more than 50% from a year ago. The stock, which is valued at $6 billion, fell to a 52-week low of $18.86 on Tuesday.

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