Last year was a difficult one for businesses across the globe during the coronavirus pandemic and what’s perhaps the largest clothing goods retailer in the world was affected as well. Macy’s stock prices plummeted in the spring of 2020, going as low as $4.81 US.
Many businesses were forced to close their doors and with the pandemic continuing, could Macy’s be a major player to file for bankruptcy?
Online sportsbook Bovada has released odds on a Macy’s bankruptcy by the end of 2021, with the “No” option favored at -400 and “Yes” coming back at +250. This means you would have to wager $400 to profit $100 on the “No” selection coming through, while a $100 bet on “Yes” would profit you $250 if a Macy’s bankruptcy is filed.
Looking at the Macy’s bankruptcy 2021 odds with our sports betting calculator, the “No” market at -400 represents an implied win probability of 80.00 percent, while the “Yes” option at +250 has a 28.57 percent implied win probability.
Will Macy’s Declare Bankruptcy?
Odds as of January 11 at Bovada
Macy’s Bankruptcy Odds
As you can see, the Macy’s bankruptcy by 2021 odds suggest the department store chain is unlikely to file for bankruptcy this year. Perhaps things may have been bleaker in April or May of 2020, but in June the company was able to secure nearly $5 billion in financing, which eased the bankruptcy concerns it would have been facing in late 2020.
In early 2021, the stock price has nearly returned to a pre-pandemic number. As COVID-19 vaccines become more readily available and businesses start returning to normal operations, it’s fairly safe to assume that Macy’s will once again be rolling financially, much like it was two years ago.
Another big factor in Macy’s favor is that its online sales increased significantly year over year, which makes sense with many bricks-and-mortar stores being closed during shutdowns. If it can hold on to those online customers while also bringing new ones in when stores open again, the company should be set up for a nice financial comeback.
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Odds Shark Staff Tue, Aug 16, 4:07pmEntertainment