Macy’s Holiday Parade Ended on Christmas

Macy’s, Inc. is one of the major mall anchors hurt by losing market share to online retail giant, Inc. and its army of Prime members. Macy’s will likely announce close-out sales this week as 11 stores are shuttered. A year ago, the retailer announced that more than 60 locations would be closed, bringing the planned total to 100 store closures.

Macy’s shares closed Friday at $24.48, down 20.6% over the past 52 weeks, but the stock is in bull market territory at 40.6% above its 52-week low of $17.41, which was set on Nov. 7 as Christmas shopping began. Even so, the stock is in bear market territory at 28.8% below its 52-week intraday high of $34.37 set on Feb. 3, 2017. Since Nov. 7, Amazon stock posted a solid gain of 9.4% but was outperformed by Macy’s. (See also: Macy’s, JC Penney Face More Declines, Options Trades Suggest.)


Iconic mall anchor Macy’s stock is cheap, with a P/E ratio of 10.83 and a dividend yield of 5.87%. …read more

Read more here: Macy’s Holiday Parade Ended on Christmas

Category: M, AMZN

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