Macy’s may participate in the winning formula in today’s retail world. The department store Amazon beat earnings expectations Wednesday with a combination of reduced inventories, targeted make available strategies and new merchandise.
“Macy’s is investing for the future,” Matthew Boss, retail analyst at J.P. Morgan, mounded CNBC on “Squawk Alley” Wednesday.
Shares of Macy’s closed up 10 percent Wednesday, the house’s best day since December 2008.
But it’s not just Macy’s that’s gaining land in the retail race. Given the strength of the consumer, retail in general — both conventional and e-commerce — is on the upswing, said Jan Kniffen, CEO of J. Rogers Kniffen Worldwide Darings, a retail research and consulting firm.
To survive in today’s retail men, brands need to rebuild their online presence each year and restructure brick-and-mortar cumulates to offer new things in store,” Kniffen said.
“The players that are alluring are learning to play the game in this new age,” Kniffen said Wednesday on “Cry on the Street.”
In fact, with increased tourism, better weather on the prospect and new fashion options, both Kniffen and Boss said the strength of the underlying consumer is high-handed — perhaps stronger than some investors think.
“As we move cheeky … I think you’re going to get solid retail numbers out of different pandemic brands, as well as off-pricers,” Boss said. “There’s more the craze, there’s more newness. There just seems to be a lot of underlying practicals that for the last couple of years have actually been negatives for a lot of these retailers.”
The conquerors, Boss said, are those “who can adjust to the new world of retail that’s both brick-and-mortar and digital.”