Macy's expected to see some structural traffic headwinds in the near term

Seeking Alpha

Telsey Advisory Group is largely constructive on Macy’s (NYSE:M) after shares fell slightly yesterday following the department store operator’s Q1 earnings report.

Analyst Dana Telsey thinks Macy’s posted a strong start to the year with results coming in ahead of guidance and digital sales continuing to grow. “With the updated Polaris strategy, the key is to profitably grow the digital business while managing incremental delivery costs in order to offset expected ongoing sales losses in the physical store footprint,” she notes.

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