Anyone else following Macy's stock earnings tomorrow?
Anyone else following Macy's stock earnings tomorrow?
$M I know they've been struggling with retail sales and it's down 48% YTD.
Recession fears, retail consumer spending decrease, lower credit card revenues (online and in-store) all contributed to this.
But they continue to invest in their store inventory, opening new locations and expecting to drive growth long term in 2024 and beyond. Their sales are also up YoY and this is expected to continue in Q3 earnings + offering 5.25% annual dividend (decent for a retail stock).
Do you think Macy's as a business model still has it for long term investment potential, if so why?
Personally, no. I think the days of monster retail stocks like Macy and are over. I think they just can’t compete with online retailers like and the large department stores don’t offer the novelty they once did.
I do like that is trying to put more money in to their stores and inventory, but it feels like they’re just bailing water out of a sinking ship. They’re just delaying the inevitable
