US department store firm Macy's has said it is cutting its profit outlook for the year after a drop in sales in the third quarter.
Macy's net income for the period between August and October was $118m (£77m), down from $217m in the same period last year.
Spending by domestic and foreign visitors has declined.
In a statement, Macy's chief executive Terry Lundgren said the company was "disappointed" at the pace of sales.
The company attributed the slump in sales to warm autumn weather, a strong dollar and Americans' increasing interest in online discount retailers.
"Heading into the fourth quarter, we are shifting our organisation into overdrive to focus on sales-driving activities in the holiday shopping season," said Mr Lundgren.
The company now sees full-year earnings coming in at $4.20 to $4.30 per share, as against earlier guidance of $4.70 to $4.80.
Macy's has opened five discounted outlets in the New York area and plans to open a sixth before the end of the year.
The company, which also owns the department store Bloomingdale's, plans to open three new discount branches of that store too.