I know it’s unpopular to discuss the once important topic of retail in America, since everything is now automated and controlled by Amazon. But what of Macy’s? The stock is now trading at 2008 crisis price to sales levels of 0.25x sales, down roughly 60% over the past two years.
While the decline in revenues have been somewhat of a downer, they’ve been gentile and still produce free cash flow.
Do we buy now, in anticipation of a robust holiday season, given the stocked market and crypto gains? Or do we simply watch and wait for their demise?Twitter