Macy's Inc.: Downgrade To Hold As The Outlook Has Gotten Murkier
Summary
- Downgrading Macy’s to hold due to mixed outlook, with core Macy’s banner under pressure and new headwinds challenging the turnaround narrative.
- Bright spots include strong performance from luxury banners and continued recovery momentum, but core sales trends remain negative and concerning.
- Increased promotional activity and the unexpected departure of key leadership add uncertainty, making it difficult to be bullish in the near term.
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