Yahoo Finance: Macy's stock soars 20% amid strong quarter, plans for digital marketplace
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Macy's (M) is having its best day ever as shares rose 20%. The pop comes after posting better than expected quarterly results and teasing the launch of a digital marketplace in the second half of next year.
"Not too long ago, every article we saw about department stores was that they were dead, and Macy's was leading the charge there. But the CEO has actually been able to cater to younger consumers who don't typically shop at department stores," Christine Short, VP of research for Wall Street Horizon, told Yahoo Finance Live.