Macy's - Restructuring and realignment pays off!

Business driver: Macy's (M) is one of the most well-known department store chains in the USA, with around 350 locations. In light of the still weak consumer demand, Macy's responded with cost-cutting measures and restructuring, closing a total of about 60 locations. However, the stores of sister brands Bloomingdale's and Bluemercury recently showed significant increases in same-store sales thanks to new designs. On September 3, Macy's surprised with a much better than expected Q3 result. The adjusted earnings per share were 41 cents, significantly...