🚀 Macy's with best growth in 3 years

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Market Overview
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Year To Date Performances:

1. Macy’s delivered its strongest growth in more than three years, beating Wall Street expectations for a third straight quarter and raising its full-year outlook as its turnaround strategy gains traction, especially in revamped “First 50” stores now expanded to 125 locations. Despite improved comparable sales and stronger performance at Bloomingdale’s and Bluemercury, overall revenue and net income declined year over year, in part because Macy’s shuttered 64 underperforming stores and continues to close locations as part of its broader restructuring. The retailer now forecasts higher sales and earnings, but still expects selective consumer spending and costly tariffs to weigh on the crucial holiday quarter, prompting CEO Tony Spring to take a cautious, “prudent” stance. Shares are up 34% this year, outpacing the S&P 500, but the company acknowledges that tough year-over-year comparisons and uncertain spending from its more financially pressured “aspirational customers” could temper momentum.

2. Mortgage rates dipped last week to an average of 6.32% on a 30-year fixed mortgage, but the decline was too small to meaningfully boost overall housing demand, as total mortgage applications fell 1.4% after adjusting for Thanksgiving. Refinancing activity dropped 4% week over week despite being more than double last year’s levels, while purchase applications rose 3% but remain subdued as buyers continue to grapple with high prices, elevated rates, and economic uncertainty. The Mortgage Bankers Association said rates fell alongside Treasury yields amid weaker labor and consumer-confidence data, yet the broader market remains mixed as some buyers return thanks to cooling price growth and rising inventory. Adjustable-rate mortgages grew to 8% of applications as borrowers sought savings, and early-week rate volatility suggests upcoming economic data, including ADP and ISM Services, could shift borrowing costs again.

3. America’s biggest denim brands have kicked off a full-blown “denim war,” pouring millions into A-list celebrity campaigns as Levi’s, American Eagle, and Gap battle for cultural relevance and consumer attention in a fiercely competitive market. Levi’s blockbuster partnership with Beyoncé set the tone, prompting rivals to roll out their own high-gloss spots featuring stars like Sydney Sweeney, Katseye, and even Martha Stewart, all amid a 70% surge in denim advertising as the global jeans market hits $101 billion. The trend reflects both a broader fashion shift—post-pandemic consumers craving real outfits over athleisure—and retailers’ strategic fights to win new demographics, revive fading brands, and stand out in a market where Gen Z prioritizes value over loyalty and vintage options threaten traditional sales. Early results show Levi’s leading the pack with outsized engagement and rising women’s revenue, while American Eagle and Gap generate cultural buzz but face mixed sales impacts as their costly bets play out. Ultimately, the frenzy underscores how denim has become a high-stakes battleground for attention, identity, and every last apparel dollar in a tight consumer economy.

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