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Is Macy’s Poised for Resurgence?

Analysts believe retailer is in a stronger position moving forward.

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The market analysts behind the S&P Global Ratings have flipped Macy’s outlook from negative to positive, which may indicate that the once-esteemed retailer may also soon receive an upgrade of its current B+ credit rating, as RetailDive explains.

The optimism comes on the heels of a fourth quarter in which Macy’s digital sales rose by 21 percent, a headwind driven by the pandemic. By the end of March, the retailer was reporting its apparel sales had rebounded to pre-pandemic levels.

Analysts, the article notes, also cited Macy’s picked up new customers as a result of J.C. Penney and Belk filing for bankruptcy.

While Macy’s still faces the challenges that have been plaguing department stores and shopping malls for the last 10-15 years, it appears that the company has found some momentum to build on with a post-pandemic future in sight.

Read more at RetailDive.

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