Actionable news
All posts from Actionable news
Actionable news in M: MACY'S Inc,

Macy’s Stock Is Cheap for a Reason

A Macy’s store in Texas. The retailer reports quarterly results Wednesday.

Shopper habits are changing rapidly. More people are buying online. Fewer are stepping foot in actual stores. And traditional department-store operators are feeling the pinch, particularly from off-price chains that sell similar goods.

After holding up longer than most, Macy’s stock shed more than half its value from last summer’s high through the end of 2015. A brief recovery earlier this year proved fleeting. And fiscal first-quarter results, due Wednesday, aren’t expected to alleviate the pain, either.

Analysts polled by FactSet estimate fiscal first-quarter earnings of 36 cents a share, down 35% from a year ago. This was...