Video: Jim Cramer Breaks Down the Case for Cutting Macy's Dividend
TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer points Citi's downgrade of Macy's, which highlighted the challenges the company faces in paying down its debt and paying its dividend at the same time. Macy's high yield of some 7%, indicates that it needs to be cut, according to Cramer.
TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer points Citi's downgrade of Macy's (M) - Get Report , which highlighted the challenges the company faces in paying down its debt and paying its dividend at the same time. Macy's high yield of some 7%, indicates that it needs to be cut, according to Cramer.
"You typically do not get that sustained high dividend," Cramer said, adding that he thinks CEO Jeff Gennette is doing a great job, but competition is strong from Amazon (AMZN) - Get Report
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