Macy’s, Inc. is one of the major mall anchors hurt by losing market share to online retail giant Amazon.com, 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
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