A month has gone by since the last earnings report for Macy's (M) . Shares have lost about 9.4% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Macy's due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Macy's Q1 Earnings Beat Estimates, Comps Decline Y/YMacy’s report ...