Macy’s Shares Surge as Early Moves to Stock up for the Holidays Pay Off

Macy’s Shares Surge as Early Moves to Stock up for the Holidays Pay Off
Shoppers are seen outside Macy's in the Manhattan borough of New York City on March 30, 2021. Caitlin Ochs/Reuters
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Macy’s Inc. raised its full-year sales and profit outlook on Thursday, signaling the department store chain had sidestepped supply chain snarls and was well stocked for the all-important holiday season.

The retailer also beat market estimates for quarterly sales and said it was reviewing a potential spin-off of its e-commerce business, sending its shares soaring more than 20 percent to a three-year high.