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Here's Why Macy's Stock (M) is Staying Ahead of the Curve
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Macy's, Inc. (M - Free Report) is making significant progress in its strategic initiatives, positioning itself for success in an evolving retail landscape. These initiatives are designed to boost market share, enhance customer engagement and maintain a strong financial position.
The company has exhibited a decent run on the bourses in the past three months. Its success can be attributed to its robust omni-channel capabilities, marked by investments in online shopping experiences, data and analytics, technology infrastructure, and enhanced fulfillment capabilities. The recent $5.8-billion buyout proposal, offering $21 per share, from real estate investor Arkhouse Management and asset manager Brigade Capital Management injected additional strength into the stock.
The M stock has outpaced the industry over time. In the said period, shares of this presently Zacks Rank #3 (Hold) player have risen 75.3% compared with the industry’s growth of 50%.
Additionally, an uptrend in the Zacks Consensus Estimate echoes the same sentiment. The consensus estimate for the current and next financial years has increased 7.9% and 0.8% to $3.01 and $2.68, respectively, over the past 60 days.
Image Source: Zacks Investment Research
Let’s Delve Deeper
Macy's key focus is on strengthening its digital capabilities to provide a seamless online shopping experience, among others. The launch of Macy's Marketplace has expanded its product offerings across various categories, including pets, home, kids, baby and maternity, beauty and health, toys, and electronics. The company had more than 1,500 brands on the platform at the end of the third quarter of fiscal 2023, and grew its gross merchandise value by approximately 22% on a consecutive quarterly basis.
Macy's is focused on enhancing its omnichannel proficiency through investments in its online shopping platforms, data analytics, technological infrastructure and fulfillment services. The company is enhancing the customer shopping experience through various initiatives. Partnerships with companies like Klarna and DoorDash offer payment flexibility and expedited delivery services.
M's emphasis on personalized customer experiences and offers highlights its commitment to customer satisfaction and loyalty. By focusing on tailored interactions, Macy's aims to enhance the overall shopping experience, leading to repeat business and a strong customer base.
Additionally, the company is focused on growing its digital marketplace and small-format stores, which demonstrate an adaptive strategy in response to the evolving retail landscape. This expansion is aimed at reaching a wider customer base and enhancing the shopping experience.
Three-Year Polaris Strategy Bodes Well
The three-year Polaris Strategy is central to Macy's plans for adapting to the changing retail landscape. This strategy focuses on strengthening customer relationships, expanding product assortments, accelerating digital growth, optimizing the store portfolio and reducing costs.
The Star Rewards Loyalty program, initiated in 2018, has played a pivotal role in engaging customers, with program members accounting for a significant portion of overall sales. Macy's and Bloomingdale's brands attracted millions of active customers, with strengths in beauty, fashion, and off-price offerings driving results. Bluemercury, a subsidiary of Macy's, also experienced growth in skincare and cosmetics in the fiscal third quarter.
Wrapping Up
Macroeconomic pressures, pullback in spending activity and stiff competition have hit Macy’s to an extent. We note that comparable sales fell 7% on an owned basis and 6.3% on an owned-plus-licensed basis in the fiscal third quarter. Nonetheless, Macy's is executing a comprehensive strategy to adapt to the changing retail landscape successfully.
3 Hot Stocks to Consider
A few better-ranked stocks are Casey's General Stores, Inc. (CASY - Free Report) , American Eagle Outfitters Inc. (AEO - Free Report) and Deckers Outdoor Corporation (DECK - Free Report) .
Casey's offers a comprehensive range of products and services to meet the needs of its customers. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Casey's current fiscal-year earnings and sales indicates growth of 9% and 0.3%, respectively, from the previous year’s reported figures. CASY has a trailing four-quarter average earnings surprise of 17.8%.
American Eagle Outfitters is a specialty retailer of casual apparel, accessories and footwear. The company currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for American Eagle Outfitters’ current fiscal-year earnings and sales indicates growth of 41.2% and 4.3%, respectively, from the previous year’s reported figures. AEO has a trailing four-quarter average earnings surprise of 23%.
Deckers is a leading designer, producer and brand manager of innovative, niche footwear and accessories. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Deckers’ current fiscal-year earnings and sales indicates growth of 21.9% and 11.7%, respectively, from the previous year’s reported figures. DECK has a trailing four-quarter average earnings surprise of 26.3%.
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Here's Why Macy's Stock (M) is Staying Ahead of the Curve
Macy's, Inc. (M - Free Report) is making significant progress in its strategic initiatives, positioning itself for success in an evolving retail landscape. These initiatives are designed to boost market share, enhance customer engagement and maintain a strong financial position.
The company has exhibited a decent run on the bourses in the past three months. Its success can be attributed to its robust omni-channel capabilities, marked by investments in online shopping experiences, data and analytics, technology infrastructure, and enhanced fulfillment capabilities. The recent $5.8-billion buyout proposal, offering $21 per share, from real estate investor Arkhouse Management and asset manager Brigade Capital Management injected additional strength into the stock.
The M stock has outpaced the industry over time. In the said period, shares of this presently Zacks Rank #3 (Hold) player have risen 75.3% compared with the industry’s growth of 50%.
Additionally, an uptrend in the Zacks Consensus Estimate echoes the same sentiment. The consensus estimate for the current and next financial years has increased 7.9% and 0.8% to $3.01 and $2.68, respectively, over the past 60 days.
Image Source: Zacks Investment Research
Let’s Delve Deeper
Macy's key focus is on strengthening its digital capabilities to provide a seamless online shopping experience, among others. The launch of Macy's Marketplace has expanded its product offerings across various categories, including pets, home, kids, baby and maternity, beauty and health, toys, and electronics. The company had more than 1,500 brands on the platform at the end of the third quarter of fiscal 2023, and grew its gross merchandise value by approximately 22% on a consecutive quarterly basis.
Macy's is focused on enhancing its omnichannel proficiency through investments in its online shopping platforms, data analytics, technological infrastructure and fulfillment services. The company is enhancing the customer shopping experience through various initiatives. Partnerships with companies like Klarna and DoorDash offer payment flexibility and expedited delivery services.
M's emphasis on personalized customer experiences and offers highlights its commitment to customer satisfaction and loyalty. By focusing on tailored interactions, Macy's aims to enhance the overall shopping experience, leading to repeat business and a strong customer base.
Additionally, the company is focused on growing its digital marketplace and small-format stores, which demonstrate an adaptive strategy in response to the evolving retail landscape. This expansion is aimed at reaching a wider customer base and enhancing the shopping experience.
Three-Year Polaris Strategy Bodes Well
The three-year Polaris Strategy is central to Macy's plans for adapting to the changing retail landscape. This strategy focuses on strengthening customer relationships, expanding product assortments, accelerating digital growth, optimizing the store portfolio and reducing costs.
The Star Rewards Loyalty program, initiated in 2018, has played a pivotal role in engaging customers, with program members accounting for a significant portion of overall sales. Macy's and Bloomingdale's brands attracted millions of active customers, with strengths in beauty, fashion, and off-price offerings driving results. Bluemercury, a subsidiary of Macy's, also experienced growth in skincare and cosmetics in the fiscal third quarter.
Wrapping Up
Macroeconomic pressures, pullback in spending activity and stiff competition have hit Macy’s to an extent. We note that comparable sales fell 7% on an owned basis and 6.3% on an owned-plus-licensed basis in the fiscal third quarter. Nonetheless, Macy's is executing a comprehensive strategy to adapt to the changing retail landscape successfully.
3 Hot Stocks to Consider
A few better-ranked stocks are Casey's General Stores, Inc. (CASY - Free Report) , American Eagle Outfitters Inc. (AEO - Free Report) and Deckers Outdoor Corporation (DECK - Free Report) .
Casey's offers a comprehensive range of products and services to meet the needs of its customers. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Casey's current fiscal-year earnings and sales indicates growth of 9% and 0.3%, respectively, from the previous year’s reported figures. CASY has a trailing four-quarter average earnings surprise of 17.8%.
American Eagle Outfitters is a specialty retailer of casual apparel, accessories and footwear. The company currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for American Eagle Outfitters’ current fiscal-year earnings and sales indicates growth of 41.2% and 4.3%, respectively, from the previous year’s reported figures. AEO has a trailing four-quarter average earnings surprise of 23%.
Deckers is a leading designer, producer and brand manager of innovative, niche footwear and accessories. It currently carries a Zacks Rank #2.
The Zacks Consensus Estimate for Deckers’ current fiscal-year earnings and sales indicates growth of 21.9% and 11.7%, respectively, from the previous year’s reported figures. DECK has a trailing four-quarter average earnings surprise of 26.3%.