Macy’s Stocking Up On Home Furnishings After 3Q Gains

Macy’s has stocked up on select home furnishings categories in anticipation of solid holiday sales after a third quarter that Karen Hoguet, the retailer’s CFO, said provided momentum enough to boost the retailer’s fourth quarter performance.
Sales were a little softer than expected, she admitted in an analyst conference call yesterday, and tabletop turned out to be a relatively weak category in the third quarter. Still, Macy’s is approaching the fourth quarter with optimism, already having announced holiday marketing initiatives including grab-and-go gift shops with a strong home décor component and celebrity brand promotions that will feature the Martha Stewart Collection among others.
In the third quarter, Macy’s posted earnings of two cents, beating analyst estimates, versus a loss of eight cents per share in the year-ago period. Sales gained 6.6% to $5.62 billion while comparable store sales increased by 3.9%