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Macy’s Stock Surges 31% on Strong Quarterly Performance
Macy’s Stock Surges 31% on Strong Quarterly Performance
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BTCCSquare news:
Macy's (M 0.38%), once emblematic of the retail sector's struggles, has staged a remarkable turnaround. The stock soared 31% this week following better-than-expected Q2 results. Net sales of $4.8 billion narrowly missed last year's $4.9 billion, but a 1% same-store sales growth and adjusted EPS of $0.41—far exceeding the $0.19 consensus—ignited investor optimism.
The retailer raised full-year guidance, now projecting revenue between $21.2 billion and $21.5 billion. This performance defies the 'retail apocalypse' narrative that had dogged the company, demonstrating the potential for traditional retailers to adapt and thrive in a challenging market environment.
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