Deutsche Bank Reiterates Buy Rating on Macy's on Wow! Pass Specials

In a report published Monday, Deutsche Bank reiterated its Buy rating on Macy's M. Deutsche Bank noted, “Macy's highlighted 3 day specials this past weekend with 25%-50% off storewide value and regular priced items with an extra 15% off using the Wow! Pass on sale and clearance apparel. In addition, all furniture was on sale with final closeouts on mattress sets. Last year, M ran a 20% off VIP sale event with the Wow! Pass offered a week later making the periods un-comparable.” Macy's closed on Friday at $41.67.