Macy's (M) closed the most recent trading day at $20.02, moving 1.77% from the previous trading session.
In the closing of the recent trading day, Macy's (M) stood at $20.54, denoting a -3.16% move from the preceding trading day.
Macy's is initiated at buy, driven by a successful turnaround and outperformance amid retail sector headwinds. The 'Bold New Chapter' strategy focuses on streamlining stores, strengthening core brands, and expanding capital-light operations. M's Q3 comps grew 3.2% y/y, with all nameplates positive; Bloomingdale's led at 9.0% growth, defying industry softness.
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M sharpens returns by closing weak stores, lifting comps at go-forward locations and cutting costs under its Bold New Chapter strategy.
Macy's (M) concluded the recent trading session at $21.57, signifying a +1.79% move from its prior day's close.
Macy's announced 14 more store closures as part of its "Bold New Chapter" turnaround strategy aimed at boosting profitability and streamlining operations.
M's trades at a steep valuation discount even as earnings estimates rise and management lifts guidance under its Bold New Chapter strategy.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
M is gaining omni-channel momentum as digital upgrades, Reimagine 125 stores and automated fulfillment lift sales and engagement.
Macy's plans to close 14 underperforming stores this year, after shuttering 66 in 2025 and 55 the year before. Following the next round of closures—most expected in the first quarter—the company will be 80% of the way toward its goal of 150 closings that was outlined in the “Bold New Chapter” turnaround plan presented by CEO Tony Spring in February 2024.
Bloomingdale's drove M's luxury-led growth in Q3, posting 8.6% comps, a fifth straight gain and reinforcing its role as an earnings stabilizer.