The retailer is Real Money's stock of the day.
The company announced stellar earnings and boosted its full-year profit guidance.
TheStreet's Martin Baccardax covered the earnings.
Macy's said adjusted earnings for the three months ended on Nov. 3, came in at 27 cents a share, up 17% from the same period last year and well ahead of the Street consensus of 14 cents per share. Group revenues, the company said, slipped to 5.404 billion but matched the market's forecast. Comparable store sales rose 3.3% on an owned-plus licensed basis, Macy's said, adding it now sees full-year sales to rising between 0.3% and 0.7% and tacked 15 cents to its prior earnings estimate of $3.95 to $4.15 a share.
"Our strategic initiatives are gaining momentum and delivering results. Another double-digit quarter from our digital business and a strong stores performance combined to help us exceed expectation," said CEO Jeff Gennette. "We continue to see an improved trend in brick and mortar across the fleet with particularly strong results from our Growth50 stores."
"The holiday season is when Macy's truly shines. We have the right merchandise, the right marketing and the right customer experiences in place to deliver a strong fourth quarter," he added.
Jim Cramer said that he thinks the stock is "fine" and, unlike some investors, still looks at it positively.