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Macy's Stock Could Triple Over the Next Few Years

TheMotleyFool

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Macy's Stock Could Triple Over the Next Few Years

For most of last year, Macy's (NYSE: M) was riding high. Through the first three quarters of fiscal 2018, comparable-store sales increased 2.7% year over year, driving margin expansion and strong growth in earnings per share.

Unfortunately, sales trends slowed dramatically beginning in December. Furthermore, while Macy's has continued to post positive comps -- barely -- its profit margin has plummeted this year, mainly due to bigger markdowns. As a result, shares of the top department store operator have fallen to around $15, after trading for more than $40 as recently as last August.