Macy’s (M) stock rose roughly 20% on Wednesday as its turnaround efforts flipped same-store sales into positive figures for the first time in three years.
Telsey Advisory Group’s Dana Telsey is not certain that it will be enough, reiterating her Market Perform rating on the stock. “While rightsizing the store base should improve longterm profitability, near-term visibility for sales and profitability growth remains limited amid macro pressure, traffic and tariff headwinds, and a competitive and potentially promotional retail landscape,” Telsey wrote in a note to clients.
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