$35.80
0.12 (+0.34%)
Macy's, Inc. (NYSE:M)
CAPS Rating:
The nation’s top department store chain, Macy’s runs nearly a thousand Macy’s and Bloomingdale’s stores.
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The nation’s top department store chain, Macy’s runs nearly a thousand Macy’s and Bloomingdale’s stores.
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I am recommending the sell of the retailing sector. Why? The reason is simple, no one is buying anything right now. When was the last time you heard of a friend, neighbor, or colleague bought a new car? I tell you that it is obvious all over America (if not the world) put discretionary spending on perma hold a couple of weeks ago. You can rest assured that there isn't a retailer in America (even Walmart) that will have a great quarter.
Ever since Bush went on prime time consequences..... the retail market has come to a screeching halt that is only slightly less frozen than the credit markets.
Unfortunately, I don't see a quick fix to the credit markets and it certainly isn't going to be forgotten by the Campaign until after November at the earliest. My guess is the economy is going to be in a negative spotlight for a year or more.
Why would you buy the retailers? I say sell baby sell.