You can’t get through a Presidents Day weekend without being bombarded by the horde of retailers offering deep discounts in honor of the occasion. Some of the best deals around on quality merchandise can be had at department store retailer Macy’s (NYSE: M). In addition to its tradition of big Presidents Day sales, the company also has a tradition of delivering big profits.
In November, the company reported a hefty third-quarter profit that easily bested estimates. Macy’s benefited mightily from the return of upscale customers to its high-end Bloomingdale’s stores during the quarter. We’ll know if Macy’s continued its tradition of delivering big profits very soon, as the company is slated to release fourth-quarter earnings today. If that report is good, look for the stock to take off.
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