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Why Macy's Stock Jumped 11% in May

TheMotleyFool

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Why Macy's Stock Jumped 11% in May: https://g.foolcdn.com/editorial/images/873069/macys-florida.jpg

Shares of Macy's (NYSE: M) stock rose 11% in May, according to data provided by S&P Global Market Intelligence. It got a boost from Berkshire Hathaway's new stake, and it reported a solid earnings beat.

Macy's owns the largest department store in the world in Herald Square in New York City, but while massive stores used to generate massive sales, the retail climate has drastically changed in recent years. The advent of e-commerce and the shift to smaller, more agile shopping venues have been a major drag on Macy's sales, and it has struggled to stay relevant.

Image source: Macy's.

Source Fool.com