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With e-commerce booming and the economy struggling, investing in a traditional department store may seem risky, but Macy’s looks like a bargain.
Macy’s Inc. (ticker: M), which also owns the Bloomingdale’s brand, operates more than 800 stores in the U.S. Macy’s strong sales trends have outshone competitors in recent months. Yet the shares still sport a single-digit forward multiple, even as the company is forecasting this year’s earnings to come in well ahead of Wall Street’s expectations.
“Macy’s…
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