Why Macy's Stock Soared Today
Shares of Macy's (NYSE: M) surged on Thursday after the retailer delivered stronger-than-expected earnings in the second quarter and said it would resume dividend payments to shareholders.
As of 1:15 p.m. EDT today, Macy's stock price was up more than 20%.
With the economy reopening and more people shopping inside stores once again, Macy's net sales rocketed 58.7% from their pandemic lows in the second quarter of 2020. Broad-based growth across its merchandise categories helped to fuel a 62.2% increase in comparable-store sales.
Source Fool.com
