No, The Other Jeff
The best performing retail stock this year is no surprise: Amazon is up 54% so far in 2018.
But you may be surprised to learn that Macy’s, often considered a casualty of Amazon, is the retailer that comes in second. Shares in Macy’s are up more than 50% year-to-date, making the department store the 10th best performing stock in the S&P 500.
Macy’s has closed underperforming stores, invested in Bluemercury, Story Worldwide, b8ta, and other new ventures, increased its use of BOPIS (Buy Online Pickup In Store), and added mobile payments. Significant to the numbers, Macy’s has improved performance in many fundamental retail KPI’s including inventory turn, assortment curation, increasing AURs.
Congratulations to Jeff Gennette, Hal Lawton, Jeff Kantor, Mark Stocker, RB Harrison, Rich Lennox, Rachel Shechtman, Tony Spring, Maria and Barry Beck, and the teams at Macy’s.
Now, let’s see what Macy’s v3.0 brings to consumers, brands, trade partners, and investors…
© 2018, David J. Katz
This story is published in The Startup, Medium’s largest entrepreneurship publication followed by 355,974+ people.
Subscribe to receive our top stories here.
