Investors are taking notice of a better-than-expected earnings report.
Transcript:
CAROLINE WOODS: It’s a good day to own Macy’s stock. Shares are surging double digits after better-than-expected earnings.
Macy’s just logged its strongest comp sales growth in three years – that’s sales at stores open at least a year – with strength in denim, women’s contemporary apparel, watches, jewelry, and home goods.
But the real standouts were its other brands:
Bloomingdale’s notched a fourth straight quarter of growth, with comps up 3.6%.Bluemercury extended its winning streak to 18 quarters, with comps up 1.2%.Macy’s has been adjusting prices to offset tariffs and says more targeted hikes are possible, but they’ll remain selective to stay competitive.
Executives called shoppers “resilient,” and noted the macro environment remains fluid, so they’re keeping a cautious outlook for the rest of the year. But investors are cheering anyway!
However, even with today’s jump, Macy’s stock is still down for the year.
Subscribe |
Earn. Live. Invest. |
TheStreet Pro |
#macys #retail #macysstore
source
