NEW YORK (TheStreet) --With Black Friday finally here, Americans nationwide will flock to stores in search of lucrative sales. One store taking full advantage of the unofficial retail holiday is Macy's. (M) CEO Terry Lundgren joined CNBC's "Squawk Box" this morning to talk all things Black Friday and the state of the consumer.
Lundgren began by noting the shift in the way consumers are embracing the shopping experience.
"They start on their phones, do their research, decide where they are going to buy, what price they are prepared to pay, and then they come in to experience the product inside a brick and mortar facility and that's us," he explained.
Lundgren expects the process of mobile research, followed by tactical in-store engagement will continue into the future.
Regarding business at Macy's, Lundgren pointed to the strengthening of the apparel business as something separating Macy's from its competition.
"I have noticed that not everyone is talking about [apparel] sales picking up, we clearly have seen apparel sales picking up. The whole category has been strong for us," he stated.
He attributes the success in apparel to both a taking of market share and the great brands Macy's offers.
As for the state of the consumer, Lundgren contended that if what he has seen the past 24 hours is any indication, the consumer is healthy.
"Based on what I have seen so far, particularly last night and today, I am encouraged," he said.
Shares of Macy's were lower in mid-morning trading on Friday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity.
You can view the full analysis from the report here: M