Macy’s Stock Could Reach the $30s After Earnings

Macy’s, Inc. shares have gained considerable ground since hitting a seven-year low in the mid-teens in November, lifting back into the mid-$20s, but aggressive sellers could return in the coming months. Brick-and-mortar retailers are still losing market share to Amazon.com, Inc. and other e-commerce giants, while belated efforts to recapture lost customers have slowed but not stopped this technological phenomenon.

The mall anchor has benefited from a one-time tax windfall and restructuring plan that will close 11 stores in early 2018, while a 1% holiday sales gain encouraged Macy’s to raise fiscal-year guidance last month. However, the company still expects to report sales declines in excess of 2%, telling market players that the paradigm shift that has rocked the retail industry in the past decade is far from over. (See also: Macy’s Begins Parade of Earnings From Retailers.)

Macy’s stock has built a three-month basing pattern and could eject higher following this week’s earnings report. …read more

Read more here: Macy’s Stock Could Reach the $30s After Earnings

Category: M, AMZN

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