Macy's Needs a Great Holiday Season
Keeping in trend with the disappointing financial news from retail names like Kohl's, Macy's (NYSE: M) reported weak third-quarter results in November that provided further proof that traditional retailers carrying ties to the department-store model aren't finding any relief from the shift in retail to more and more e-commerce. As a result, Macy's is very dependent on the important holiday quarter this year -- more so than usual.
Macy's managed to maintain a positive financial story throughout the first half of the year. But the third quarter bucked that trend. The retailer reported that:
Overall, Macy's continues to show cracks. Through the first 39 weeks of the year, operating income represented 2.5% of net sales vs. 4.2% of sales through the first 39 weeks of 2018.
Source Fool.com
