Macy's Just Had Its Strongest Q1 in 4 Years. Here Are 3 Ways the Struggling Retailer Is Tackling Its Turnaround.
The department store chain has been executing on its turnaround plan.
Overview
Malls and department stores are seen by many as fading relics of the past, but don't tell that to Macy's (NYSE: M).
The clothing retail store chain just had its best first quarter in years, and its stock price is up 85% over the past 12 months. It even caught the attention of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB), which added its first-ever stake in Macy's in the first quarter.
Details
Revenue increased 2% in the quarter to $4.9 billion, while its comparable (or same-store) sales rose 3%. Macy's store comp sales were up 1.6%, but the company's Bloomingdale stores saw comp sales surge 10.2% while its beauty property, Blue Mercury, saw same-store sales jump 6.4%.
Source
Originally published at www.fool.com.