Easily one of the standout winners on Wall Street during the midweek session was retailing giant Macy's Inc. (NYSE:M). After struggling for traction and relevance amid a seismic paradigm shift in the discretionary consumer economy, the iconic department store has finally demonstrated signs of life. By delivering an unexpectedly stout financial performance, M stock looks intriguing in the near term. However, skepticism may ultimately win out.
On paper, circumstances look encouraging. For the second quarter, Macy's generated revenue of $4.81 billion, beating out analysts' consensus target of $4.76 billion. On the bottom line, the retailer posted adjusted earnings of 41 cents per share, storming past the consensus view of 18 cents. Subsequently, M stock jumped 18%.
