Jim Cramer - Mad Money Macys Inc. (formerly Federated Department Stores) M-N BUY May 24, 2024

The CEO announced he will step down next February. The CEO guided Macy's through Covid by sticking to his turnaround plan and emerged stronger. An incredible job. When the CEO took the job in 2018, Macy's was spiralling, crushed by debt and dominated by e-commerce.

It's cheap, but shares can keep falling. The market is bearish on retail now.

They report Thursday. He wants to hear their holiday forecast and the state of the consumer.

Before their recent report, shares were down 47% for the year, but the beat their numbers across the board, including earnings, though those numbers were not great. They've discounted their inventory like crazy until it's now manageable. Are positioned well for holiday shopping. Also, he has faith in the new CEO.

It reports Tuesday. It has hiked its dividend by 5%, but it won't make much of a difference.

The buyout won't happen. This trades at 6x earnings and run by a good CEO. Buy at $18.35.

They report Wednesday. He wants to hear why an employee apparently had millions in delivery expenses hidden. What really happened? We need answers.