Macy's CEO says company is already benefiting from vaccinations and stimulus checks

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Gennette said business from loyal Macy's customers is already up by 10% from the company's fiscal fourth quarter.

"That's clearly the vaccine starting to take root," he told CNBC's Jim Cramer in a "Mad Money" interview.In this articleCEO Jeff Gennette told CNBC on Tuesday the uptick in U.S. Covid-19 vaccinations is already having a positive effect on the company's top line.fourth quarter"That's clearly the vaccine starting to take root," he told CNBC's Jim Cramer in a "" interview. "We're still taking a conservative view to this year.

Macy's reported that online sales increased 21% and made up 44% of net sales last quarter. The retailer's brick-and-mortar challenges were multiplied as more consumers flocked to the internet to shop.

 

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Took this one with you today! Nice call!

Oh, that money people desperately needed was spent at Macy’s?!? Taxpayer dollars well spent!

I love Macy’s. They have some good sales and I can always find my size juniors department. 😅❤️

Of course they are. Big Corps are welfare Queens. All of the stimulus money will eventually trickle down to them.

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