Macy's: Growth Is Likely To Inflect Moving Forward (Rating Upgrade)
Portfolio Pulse from
Macy's has been upgraded from hold to buy due to signs of positive growth inflection and improved fundamentals. Despite mixed 3Q24 earnings, management's 4Q24 guidance indicates positive same-store-sales growth for the first time in 10 quarters. The success of the 'First 50' program and organic demand improvement without heavy promotions bolster confidence in Macy's FY25 outlook.
December 13, 2024 | 4:30 am
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Macy's has been upgraded from hold to buy due to positive growth signs and improved fundamentals. Management's guidance for 4Q24 indicates positive same-store-sales growth, a first in 10 quarters, supported by the 'First 50' program and organic demand.
The upgrade from hold to buy is based on positive growth inflection and improved fundamentals. The 4Q24 guidance indicating positive same-store-sales growth, a first in 10 quarters, is a strong positive signal. The success of the 'First 50' program and organic demand improvement without heavy promotions further support a positive outlook for FY25.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100