"I Mean, What Is That?" Says Jim Cramer About Macy's, Inc. (M)'s Analyst Coverage

We recently published 12 Stocks Jim Cramer Discussed As Part Of His Big Tech Deep Dive. Macy’s, Inc. (NYSE:M) is one of the stocks Jim Cramer recently discussed.

Macy’s, Inc. (NYSE:M)’s stock stunned everyone this month after it gained a whopping 27.8% following the firm’s latest earnings report, which saw same-store sales grow for the first time since 2022. The gain effectively reversed the stock’s 20% year-to-date losses. Naturally, Cramer had a lot to say about Macy’s, Inc. (NYSE:M):

“Not as great as Macy’s, which was fabulous.

“I do think that we have to talk Macy’s. There are three analysts who talked about it today. And one of them went from six to six and half on the price . . .I mean, what is that?

“But this company has got, even the credit card has turned. What they’ve done is finally closed all the underperforming Macy’s, Bloomindale is doing amazing, Blue Mercury is doing amazing. I think the assortment is what’s important, it’s very differentiated, and mainly, there’s no inventory overhang. How many times we’ve gone over the holiday season, where Macy’s has too much inventory and they use the word promotional? Tony Spring was saying, bring it on, we’re ready. This is big. Analysts don’t believe him. Analysts don’t believe him.

“I think you’re going to see nice seasonal increase and I say that because one of the things that I said to Tony was, what is happening? There’s service. When you go to Bloomy’s there’s service, by the way his points system is extraordinary, people are really loving it. And he said, we’re hiring, we’re hiring. And it’s not holiday season yet. I was very impressed with them. . .But I think that the analysts have to start catching up. Macy’s even online was very good. You know there was a time when Macy’s was a growth stock, it can happen again. It can happen again.”

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Disclosure: None. This article is originally published at Insider Monkey.