For those looking to find strong Retail-Wholesale stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Macy's (M - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Macy's is one of 214 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. M is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for M's full-year earnings has moved 6.80% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that M has returned about 56.69% since the start of the calendar year. At the same time, Retail-Wholesale stocks have gained an average of 14.64%. This means that Macy's is outperforming the sector as a whole this year.
Looking more specifically, M belongs to the Retail - Regional Department Stores industry, which includes 5 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, this group has gained an average of 41.82% so far this year, meaning that M is performing better in terms of year-to-date returns.
M will likely be looking to continue its solid performance, so investors interested Retail-Wholesale stocks should continue to pay close attention to the company.