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Macy’s earnings: Shares are rising but same-store sales are not

May 14, 2018

Morgan Stanley downgraded Macy’s Corp. last week on concerns about same-store sales in a note that came just ahead of first-quarter results, that are scheduled for Wednesday.

Macy’s M, +0.20% stock is up nearly 27% for the past year, but Morgan Stanley analysts led by Kimberly Greenberger are expecting that to change after the first quarter as return on invested capital (ROIC) deteriorates.

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