Is Macy's Stock a Buy?
Is Macy's (NYSE: M) hot or not? Once a thriving department store chain selling everything from baby clothes to mattresses, its sales dropped more than 45% at the beginning of the pandemic. It's been plagued by all sorts of problems, but after hitting what appears to be the nadir of its challenges, things are actually looking up.
Macy's is the second-largest apparel-focused retailer in the U.S., and it made its big bucks through its huge department stores. But what was once a major asset is now weighing the company down. Department stores are out of fashion, and the malls they typically anchor were seeing less foot traffic even before the pandemic hit and people had to stay home.
Source Fool.com
