Fiscal 2026 - R200 (R125+NN75)
Fiscal 2027 - R275 (R200 + NNN75)
Fiscal 2028 - Add the remaining 50 stores for remodel, totaling 350 stores
Macy’s stock price in 2028 will be $150-$200.
1 reply
I appreciate the optimism, and as a best‑case scenario I do not think 150–200 is impossible, but it would imply a valuation in the neighborhood of companies like Target. For that to happen, the market would need to stop viewing Macy’s as just a cyclical department store and start treating it as a structurally stronger, multi‑pillar platform.
We would need to execute at a very high level on several fronts at the same time:
• Continue to dominate in luxury, fragrance, and beauty.
• Be the clear leader in occasion and dress‑up.
• Become the go‑to destination for gifting and accessories with strong private label and exclusive product.
• Carve out a defensible niche in home and soft home where customers associate Macy’s with both quality and value.
Equally important, we would need a consistent pricing strategy that actually makes sense to customers. That means speaking with one voice across the business instead of having one merchant leaning into sharp, competitive pricing while another runs a confusing high/low model. If we are not in sync on value, promotions, and everyday price architecture, it is much harder to build trust and repeat behavior, no matter how strong the product is.
On top of category strength and clear pricing, the omni‑channel experience would have to feel best in class, with the 350 core stores, the app, and the website working as a single ecosystem, and flagship properties like Herald Square acting as real brand engines rather than just legacy real estate. If sales, profits, and cash flow from that model are strong enough to genuinely excite investors, then the market is much more likely to fully reflect the value of our properties and digital business in the share price. In that sense, it is a credible bull case that every employee should be pulling for.