Neil Saunders, managing director of GlobalData Retail, said Macy's portfolio of businesses from Bloomingdale's to Backstage and wide range of prices will be a "significant advantage over the next year or so as consumer behavior polarizes." He noted that with good planning, Macy's can flex to take advantage of differences in the trading across various shopper groups and categories. That advantage, he believes, is why Macy's outlook has not deteriorated as much as those of other retailers.