Macy's (NYSE: M) is recovering successfully from the initial devastation caused by the coronavirus pandemic when it temporarily had to turn away shoppers from its stores. Unsurprisingly, revenue fell dramatically, but management pivoted quickly to enhance the digital business.
As a result, Macy's is in a better position now than before the outbreak. Those improving prospects have investors circling, asking if now is an excellent time to buy Macy's stock.
Macy's revenue exploded by 39.8% to $25.3 billion in its most recently completed fiscal year. To put that growth into context, Macy's has compounded annual revenue at a negative 0.4% rate over the last decade. Before the outbreak, Macy's struggled with consumer shopping habits that were increasingly moving online. That was terrible news for a company that derived most of its sales from its sizable, mall-based, brick-and-mortar stores.
Source Fool.com