Macy's, Inc. announced financial results for the first quarter that surpassed its own guidance, signaling promising progress on its "Bold New Chapter" strategy. The retailer reported net sales of 4.6 billion dollars, despite a 5.1 percent decrease inclusive of store closures compared to the same period last year, and delivered adjusted diluted...
May 29, 2025
To better reinvent themselves and increase cross-selling, department stores are rethinking their womenswear offering by combining creative labels with ‘heritage’ brands. From Bloomingdale's to Galeries Lafayette, the International association of department stores (IADS) has identified the different hybridisation strategies implemented by...
May 14, 2025
Macy’s has unveiled significant changes to its executive leadership team and organisational structure including the appointment of Thomas J. Edwards as chief operating officer and chief financial officer, effective June 22, 2025. These organisational changes are aimed at supporting the company's "Bold New Chapter" strategy. "With these changes,...
Apr 2, 2025
In line with many of its rivals, US department store chain Macy’s reported fourth-quarter results that surpassed expectations, yet its sales and profit projections for the upcoming year fell short of investor hopes. The company cited "external uncertainties" as a factor contributing to anticipated weaker future performance. Macy's projected net...
Mar 7, 2025
Macy’s has reaffirmed its fourth-quarter financial expectations, forecasting adjusted diluted earnings per share to fall within the previously announced range of 1.40 dollars to 1.65 dollars. The company also anticipates net sales to be near the lower end of its prior guidance, ranging from 7.8 billion dollars to 8 billion dollars. In a trading...
Jan 14, 2025
Macy's has confirmed the closure of 66 Macy’s store locations across New York City and surrounding regions as a part of the bold new chapter strategy, which was announced in February 2024. The company said in a release that the plan is designed to return the company to sustainable, profitable sales growth which includes closing approximately 150...
Jan 10, 2025
Confirming no material impact on its financial results after completion of delivery expense related investigation, Macy’s reported GAAP diluted earnings per share of 10 cents and adjusted diluted earnings per share of 4 cents for the third quarter. Macy’s now projects full year net sales to be in the range of 22.3 billion dollars to 22.5 billion...
Dec 12, 2024
Two activist shareholders of Macy’s have called on the US department store giant to make a number of changes to its structure, including a possible sale of Bloomingdale’s, after it delivered “limited sustainable improvements” to operating results. In a press release and presentation addressing the retailer, Barington Capital Group LP and Thor...
Dec 10, 2024
Macy’s has delayed its third quarter results after discovering that one of its employees hid nearly 132 million dollars to 154 million dollars in delivery expenses over the last three years. The company’s net sales for the quarter decreased 2.4 percent to 4.742 billion dollars, with comparable sales down 2.4 percent on an owned basis and down...
Nov 26, 2024
US department store chain Bloomingdale's has announced the impending opening of its fourth Bloomie’s store. Located in the Grove Shopping Center in Shrewsbury, New Jersey, the store will open on November 14 and will be the first to feature an all-women's assortment, including ready-to-wear, beauty, accessories, and jewelry. The first Bloomie’s...
Oct 16, 2024
Macy’s has lowered its annual outlook to reflect the difficult consumer environment and now expects net sales to be in the range of 22.1 billion dollars to 22.4 billion dollars with comparable sales change of down between 1.5 to 2 percent. For the second quarter, Macy’s reported diluted and adjusted diluted earnings per share of 53 cents. Net...
Aug 21, 2024
American department store chain Bloomingdale’s will host a two-month-long retail event bringing “the best of Italy to the US” kicking off with New York Fashion Week in September. The ‘From Italy, With Love’ event will start on September 5 within the retailer’s 59th Street flagship in New York and will immerse shoppers in Italian fashion, design,...
Aug 19, 2024