Monday, February 13, 2017
Macy's could have 50 percent upside in a sale
Macy'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