If you’d told a retail analyst two years ago that Macy's (M) would be one of the more interesting stories in the 2026 market, they probably would have laughed. For a long time, the narrative was "retail apocalypse" this and "dying malls" that. But look at the ticker today. As of the close on Friday, January 16, 2026, Macy's stock (M) finished at $21.74, a modest gain of about 0.79% on the day.
It isn't a moonshot. Not yet. But when you look at the 52-week range—swinging from a low of $9.76 to a high of $24.41—you start to see a company that has found its footing. Honestly, the mood around the stock has shifted from "can they survive?" to "how much can they win?"
The "M stock price today" reflects a quiet confidence that wasn't there during the messy buyout drama of 2024. Remember Arkhouse and Brigade Capital? Their $6 billion bid feels like ancient history now. Management basically bet on themselves, and so far, the "Bold New Chapter" strategy is actually putting points on the board.
What’s Actually Driving the Price Right Now?
Investors are currently chewing on a few massive developments that hit the wires this week. First, the elephant in the room: Saks Global filed for Chapter 11 bankruptcy on January 14, 2026. This isn't just retail gossip; it's a structural shift.
Saks, Neiman Marcus, and Bergdorf Goodman are all under that umbrella, and their debt spiral has handed Macy's a "once-in-a-lifetime" gift. While the luxury competitors are fighting in court, Macy's is moving in on their high-end customers. You've probably noticed that Bloomingdale’s and Bluemercury—Macy's luxury banners—are the ones doing the heavy lifting lately. Bloomingdale’s just posted its strongest quarterly comparable sales growth in over three years.
The 150-Store Pruning
People get nervous when they hear "store closures," but the market is treating this differently. Last week, CEO Tony Spring confirmed another 14 stores are shutting down in early 2026.
Locations in places like La Mesa, California and Livingston, New Jersey are on the block. Why is the stock rising on bad news? Because the "Reimagine 125" locations—the stores Macy’s is actually keeping and investing in—are outperforming the rest of the fleet by a mile. It’s addition by subtraction. By cutting the dead weight of underproductive mall anchors, Macy's is protecting its margins.
The Financial Guts: P/E Ratios and Dividends
Let’s talk numbers without making it a snooze-fest.
- P/E Ratio: Currently sitting around 12.7. That’s low compared to the broader S&P 500, which tells you the market is still a bit skeptical about long-term growth.
- Dividend Yield: About 3.3%. For a "boring" retail stock, that’s a pretty solid paycheck for just holding the shares.
- Liquidity: They’ve got over $1 billion in cash and access to a massive credit facility. They aren't going broke anytime soon.
There’s also a big tech play happening in the background. Their new 2.5 million-square-foot fulfillment center in China Grove, North Carolina, just went fully operational. They’re using heavy robotics and AI to trim about $235 million in annual costs. If they hit those savings by the end of this year, that money goes straight to the bottom line.
✨ Don't miss: Net zero customer service: What most companies are getting wrong about sustainability
Why Analysts Are Split
You’ll find a huge gap in "fair value" estimates. Some firms, like Evercore ISI, are seeing the best progress in 15 years. They point to the improved merchandising and better staffing at the "Reimagine" stores as proof that the brand still has life.
On the flip side, you have the bears. They’re worried about the 22% annual drop in earnings per share (EPS) over the last few years. The concern is simple: Can you shrink your way to greatness? If traffic at physical malls keeps sliding faster than Macy’s can close stores, the math eventually fails. Plus, those 2025/2026 tariffs on textiles are a looming threat to margins that no one has a perfect solution for yet.
The Luxury Lifeline
Keep a very close eye on Bluemercury. It has posted 19 consecutive quarters of growth. Nineteen. In the world of prestige beauty, they are becoming a real powerhouse, and they don't need a giant mall anchor to succeed. They’re opening more standalone shops in high-traffic suburban areas, which is a much smarter real estate play than the old-school 1990s department store model.
Actionable Insights for Investors
If you're looking at m stock price today as a potential entry point, here’s the reality of the situation:
- Watch the Saks Bankruptcy: If Saks starts liquidating high-end locations or losing vendors, Macy’s (specifically Bloomingdale's) is the immediate beneficiary. Look for news regarding supplier shifts in the coming months.
- Monitor the "Reimagine" Results: The next quarterly earnings report will be crucial. If the 125 "Go-Forward" stores don't maintain their 2-3% comparable sales growth, the turnaround narrative might stall.
- Real Estate Monetization: Macy's still owns some of the most valuable land on Earth, including the Herald Square flagship. Any news about a REIT spin-off or a redevelopment deal for that property could cause a massive short-term price spike.
- Dividend Safety: Given the $1 billion cash cushion, that 3% dividend looks safe for now, making this a potential "value and income" play rather than a "growth" stock.
The days of Macy's being a punching bag for the markets seem to be ending. They’re leaner, they’re focused on luxury, and for the first time in a decade, they have a clear-eyed leadership team that isn't just chasing digital ghosts. It’s a "show-me" story, and so far, they’re showing up.