Monday, February 13, 2017

Macy's could have 50 percent upside in a sale

One of the 68 Macy's Inc stores the company plans to close is shown at the Mission Valley Center mall in San Diego, California, U.S. January 5, 2017. REUTERS/Mike BlakeMacy's Inc could see its shares rise by 50 percent in a potential sale, as the struggling retailer looks to turn around its business by downsizing its physical-store operations and reinvesting in its online presence, Barron's said on Sunday.

The Cincinnati-based company, which in recent years has become the sixth-largest online retailer, is a bargain for investors despite Wall Street's gloomy outlook with management's plans to close 100 underperforming stores, which could increase its stock by 20 to 30 percent.. . . more

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