The venerable Jeffrey Macke weighs in on the Macy’s quarter, which was much better than expected.
Macy’s is a much better retailer when consumers are spending. Nice statement from the new guy. Comps up 1.4% (vs overall growth >4%) and online meaningless but death is off the table for M and a lot of other retailers. $M pic.twitter.com/rRMfvctSWV
— Jeff Macke (@JeffMacke) February 27, 2018
And then he tweeted this shit, which really got my almonds going.
Macy’s beats. Nothing like a tail wind. Huge run for the shares this AM. America has a love affair with retail. $M
— Jeff Macke (@JeffMacke) February 27, 2018
How dare Jeffrey suggest America has a love affair with retail. The grim narrative I’ve been comfortable with is abandoned shopping malls with overgrown weeds inside of them and shattered glass storefronts. But Macke is saying retail is awesome and he knows much more about retail than I’ll never know. So what’s the fucking status update on the mall?
All we have to do, frankly, is gander, mind you, at the share prices.
Returns over the past 6 months:
KSS +70%
M +45%
DDS +20%
ANF +73%
URBN +72%
AEO +55%
ZUMZ +52%
BKE +48%
GCO +43%
LE +40%
TUES +56%
BURL +43%
TGT +39%
SITE +53%
HD +26%
TLRD +100%
FOSL +61%
OLLI +37%
The list goes on and on. Color me surprised — but it appears retail and the mall are back — in terms of higher stock prices.
As for the fundies…
…I guess dying at a slower than expected pace is good news in this environ.
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let’s call it non-gaap scheming and pumping
Where the heck has he been all this time? He abandoned this site and poof – shows up?
He’s on twitter. He refused to work for less than $500k per year.