Sitting on approximately $27 billion in cash and enjoying robust economic growth during the COVID-19 pandemic — with second-quarter sales expected to grow more than 27% — Amazon (NASDAQ: AMZN) is rumored to be on the acquisition hunt. One often mentioned target is iconic retailer Macy’s (NYSE: M). Another is J.C. Penney (OTC: JCP).
Both have faced their share of struggles in recent years as more consumers shift to online buying, and with the pandemic shutting large portions of the economy,...
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