Here's Why Macy's Stock Soared Today
Shares of Macy's (NYSE: M) leaped on Thursday after the department store chain posted strong third-quarter financial results and announced a potentially powerful new digital growth driver.
As of 2:15 p.m. ET, Macy's stock price was up 22%.
Macy's net sales jumped 36% year over year to $5.4 billion. The retailer's in-store traffic recovered from its pandemic downturn, and its online operations continued to grow at a healthy clip. Companywide comparable sales rose 35.6%, while digital sales increased 19%.
Source Fool.com