Macy's Offers Proof of Life

 | Nov 13, 2013 | 10:48 AM EST
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Can the consumer really be dead if Macy's (M) is doing that well?


Yes, it is true that CEO Terry Lundgren is a superior operator who truly has reinvented the department store, making it an exciting place to go and buy things. His "My Macy's" campaign to re-regionalize the chain is working, and the remake of the Herald Square flagship store is doing very well.

But in the end, this is a sign that the consumer isn't just spending on hard goods anymore. She's also spending on clothes.

There are lots of takeaways from these Macy's numbers.

First, you can probably buy Michael Kors (KORS) off this number. Not glib. Can do.

Second, I would take a swing at VF Corp. (VFC) and PVH (PVH), even as both have huge overseas operations.

Of course, I would say buy Macy's, but I can't chase and this market does give you breaks. But the consumer can give this market a next leg -- and an important leg -- because many of these stocks have been in a total funk, and I now think they can break out of it.

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