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Macy's Stock Surges 20% on Huge Earnings Beat

TheMotleyFool

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Macy's Stock Surges 20% on Huge Earnings Beat

Flush with cash and eager to get out after being cooped up at home for much of 2020, U.S. consumers have come back in full force this year. Retail sales have surged, and the rising tide has lifted all boats: even previously struggling department stores.

On Thursday, Macy's (NYSE: M) became the latest retailer to release a stellar second-quarter earnings report. The company's massive earnings beat caused Macy's stock to jump 20% yesterday. Let's see if these gains look sustainable.