Why Macy's Stock Zoomed 31% Higher This Week
It wasn't that long ago that Macy's (NYSE: M) was something of a poster child for the retail apocalypse. The company was a supposedly stuck-in-the-past operator burdened with an outdated brick-and-mortar store model.
That once unpopular poster child was looking quite appealing recently, according to data compiled by S&P Global Market Intelligence: The retailer's stock powered 31% higher over the week. Encouraging quarterly results were the foundation for that big leap in price.
That sort of catapult happens when a company obliterates performance expectations, and that's precisely what happened with Macy's on Wednesday.
Source Fool.com
