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.
Macy's Just Had Its Strongest Q1 in 4 Years. Here Are 3 Ways the Struggling Retailer Is Tackling Its Turnaround.
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.
