The stock price of Macy’s Inc (M) has risen up by over 2.15% today till the late morning trading session. Since the beginning of this week, the stock price of Macy’s has gone down by over 1% but is on the rise now. The stock closed at $36.56 on Tuesday.
The Ohio based company is an American holding company. It is the owner of department store chains Macy’s and Bloomingdale’s, which specialize in the sales of clothing, footwear, accessories, bedding, furniture, jewelry, beauty products, and house wares; and Bluemercury, a chain of luxury beauty products stores and spas. As of July 26, 2015, the company operated approximately 885 stores in the United States, Guam, and Puerto Rico; its namesake locations and related operations account for 90 percent of its revenue. According to Deloitte, Macy’s, Inc. is the world’s largest fashion goods retailer and the 36th largest retailer overall, based on the company’s reported 2010 retail sales revenue of $25 billion (equivalent to $27.1 billion in 2016).
The company announced their plans last week to hire 83,000 employees, an increase of 3,000 jobs compared to last year. Seasonal associate positions are available at Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers, according to a news release. Most of these positions are part-time but have the potential for opportunities within the company after the holiday rush dies down. The company is offering thousands of positions nationwide in order to alleviate extra stresses during the holiday season. Around 15,000 of the positions will be “direct-to-consumer” based, meaning sales associates positions in Macy’s Inc. “megacenters” in locations such as Secaucus, New Jersey and Cheshire, Connecticut, among others. About 1,000 people will be hired for roles that support the 90th Macy’s Thanksgiving Day Parade and other holiday events like Santaland, according to a news release.
Meanwhile, this October, Macy’s is once again inviting customers to “think pink” and show their support in the fight against breast cancer through an inspirational and fashionable campaign that heightens awareness and turns the fundraising focus on a disease that affects not only women, but those who love them. Throughout the month of October, the power of pink will prevail with exclusive merchandise, including fashion, cosmetics and items for the home, in addition to Ralph Lauren Pink Pony apparel. And, for the first time, those united in the fight will be able to show their support through a new, limited-edition Pink Pony Bracelet that benefits the Pink Pony Fund of The Ralph Lauren Foundation. With a plenitude of pink, Macy’s celebrates Breast Cancer Awareness Month with style and strength.
Our analysts have given a “BUY” rating to Macy’s stock. Despite the fall this week, the stock has gone up today and is expected to rise further. The current holders of this stock are advised not to sell it yet.