Macy's Crushes Q3: Raises Outlook for the Year
After a devastating year in 2020 attributed to the coronavirus pandemic, Macy's (NYSE: M) is having an excellent year in 2021. The retailer reported fiscal third-quarter earnings before the market opened on Nov. 18 that delighted shareholders.
The stock surged 21% on the day of the announcement. Macy's is bouncing back aggressively as economies reopen and more people are vaccinated. The return of in-person shopping is not significantly taking away from digital sales, and the positive signs led management to raise the outlook for the rest of the year.
Macy's stock is up over 200% this year. Image source: Getty Images.
Source Fool.com