The retail industry overall is a bit of a mess. At the top of the heap, there is Amazon.com. At the bottom of the heap, there are bankruptcies and thousands of stores closing. Between those extremes, there are enticing values to be found.
Macy's (NYSE: M), Tapestry (NYSE: TPR), and L Brands (NYSE: LB) are worth considering as investments for the dividends alone. To be clear, all three are facing challenges. But these companies generate healthy levels of free cash flow and distribute most of that to shareholders in dividends. These three stocks have gotten so cheap that the dividend yields range from 5% to nearly 10%.
Plus, the obstacles these retailers face in the short term appear fixable. Here's why I would consider buying shares today.