Headlines

Macy’s Upgrade Pushes Retail Stocks Higher

Department store chain’s shares jump 5 percent

Published

15 years ago

September 22, 2009

VMSD Staff

The Standard & Poor’s Retail Index climbed .6 percent today, driven in large part by an upgrade for Macy’s shares. Citigroup analyst Deborah Weinswig moved the department store giant’s shares from “hold” to “buy.” She pointed to the success of My Macy’s merchandising program, which keys in on local markets, as well as citing the potential of reduced product costs and potential for healthier sales. That was enough to push Macy’s shares up 5 percent.

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