Thom Guidi spoke with Andy Brownfield of the Cincinnati Business Courier about Macy’s recent stock price decline. Here is an excerpt from the story:
Thomas Guidi, Foster & Motley: "The thing to remember is Macy’s has done pretty well this year prior to falling after their recent earnings release. When stock price goes up so much, investors expect a lot from a company. Though their earnings were good, maybe it wasn’t as well as expected. We’re in the point in an economy when retailers are supposed to do well. Macy’s has improved, but they’re just not keeping up with other retailers, especially online retailers. ... I think there are just concerns with tariffs being put into place that could impact holiday sales and that’s always going to be a factor with Macy’s."
Click here to read the full article (a subscription may be required).