Macy's Stock Trades at Just 10 Times Earnings. There's Only 1 Explanation for Why Macy's Is This Cheap.

Macy's stock trades at a low valuation of 10x trailing earnings, but investors are pricing in continued deterioration of the brick-and-mortar retail business. While the company owns valuable real estate worth $5-15 billion, the theoretical value is offset by the ongoing retail apocalypse, store closure trends, and limited buyer interest for retail properties. Despite modest signs of recovery, the market remains skeptical about the department store sector's future.