Macy's stock is on the rise in premarket trading
Shares of Macy's Inc (NYSE:M) are higher in premarket trading, up 1.6% at $22.02, after the retailer beat first-quarter earnings and revenue expectations, posted its strongest first-quarter comparable sales growth in four years, and raised its full-year outlook. Management pointed to improved staffing and merchandise assortment as key drivers of the stronger-than-expected results.
The equity is looking to build on an already impressive run, and could break into positive territory for 2026, should these gains hold. Macy's stock has added 10% during the past month and 91.4% over the last 12 months. Today's move has the stock trading near its highest level since January, though it remains below its December peak of $24.41.
A short squeeze could help push the shares higher. The 33.47 million shares sold short account for 12.89% of Macy's available float, or nearly five days' worth of pent-up buying power at the stock's average daily trading volume.