Macy's (M): Profitable Without Profit Growth

Macy's (M) has been downgraded to hold from accumulate by Gordon Haskett. George Tsilis joins Alex Coffey and Jenny Horne to discuss Macy's. Gordon notes that while inventory has been well controlled, no one is immune to macro pressures. He mentions that Macy's data gives pause in the short to medium term, but is favorable long term. George then goes over how Macy's CEO Jeff Gennette is to retire in February 2024. He also goes over how Macy's is profitable, but without profit growth. Tune in to find out more about the stock market today.