Department and retail stores got crushed by the COVID-19 pandemic, with consumers relying heavily on e-commerce sites as opposed to brick and mortar stores.
Recently, customers have been rushing back to department stores and malls. Macy’s Inc M, one of the largest department stores in the U.S., has benefited from this resurgence with its stock skyrocketing more than 200% this year.
Since August of last year, Macy’s stock’s one-year return has outpaced tech giants Advanced Micro Devices, Inc. AMD, NVIDIA Corporation NVDA, Walt Disney Co DIS and Microsoft Corporation MSFT.
Here’s how the returns break down from August 2020 to present:
AMD is up from $90.82 a share to $110.70 for a return of 21.89%.
Microsoft is up from $235.53 a share to $304.17 for a return of 34.87%
Disney is up from $131.87 a share to $181.81 for a return of 37.87%.
NVIDIA is up from $133.75 a share to $224.41 for a return of 67.79%.
And finally … Macy’s is up from $6.97 a share to $22.50 for a return of 222.88%!
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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