Strong Store Reopenings Propel Macy’s Q2
Despite the ongoing coronavirus pandemic, Macy’s managed stronger than expected results in the second quarter.
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Report: Simon Offers Amazon Mall Space For Fulfillment Hubs
Mall operator Simon Property is in talks with Amazon to occupy space exited by consolidating department store and mid-tier retailer chains such as J.C. Penney, according to a Wall Street Journal report.
Sarah Dipietro, Omni Buyer, Fine & Casual China, Dinnerware, Outdoor & Table Linens, Macy’s
Sarah Dipietro quickly gained a reputation as a creative partner after stepping into her role at Macy’s as omni buyer for dinnerware in mid-2018. Most recently, she took on the casual china department at the retailer as well and was noted for her swift and focused diligence amid the COVID pandemic. For these and other reasons, Dipietro has been named a 2020 HOMEWORLD BUSINESS Impact Merchant.
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Macy’s Sets Plans For Safe Holiday Promotions
COVID-19 forced retailers to rethink operations as spring moved into summer, but now that the progression into the holiday season is at hand, Macy’s is already formulating plans to deal with the circumstances it will have to confront.
Macy’s Hit By Big Q1 Loss, Expects Gradual Recovery
In the first quarter, Macy’s posted a big loss, but the company said recovery from COVID-19 pandemic-related shutdowns has been strong.
Macy’s Restructures To Address Pandemic’s Sales Impact
Macy’s is restructuring to align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic, including the closure of stores from March 18 through May 4, 2020 and gradual reopening.
Macy’s Secures Financing But Signals Q1 Loss
Macy’s has secured new financing to shore up its business, while revealing that its preliminary sales and earnings results for the first quarter included a loss and lower sales, although it said e-commerce and reopened stores are performing well.
Macy’s Responds To Herald Square Store Break In
Looters broke into Macy’s flagship store in New York’s Herald Square on the night of June 1 in the aftermath of protests related to the death of George Floyd, and the company issued a brief statement on June 2 about how civil unrest has affected the company.
Macy’s Forecasts Challenging Q1 Results
As it adapts to the coronavirus-impacted retail environment, Macy’s has provided preliminary sales and operating results estimates for the 2020 first quarter, which include significantly reduced sales, but also some good news from reopened stores.
Vesa Equity Takes 5% Macy’s Share, Intends Management Talks
Vesa Equity Investment has acquired a 5% stake in Macy’s, with its purpose, according to a filing with the United States Security and Exchange Commission, “to engage in constructive discussions with the issuer’s management and/or board of directors, other stockholders of the issuer and other interested parties that may relate to the business, management, operations (including cost structure), assets, capitalization, financial condition, strategic plans, governance and board composition and the future of the issuer.”
CFO Price Departing Macy’s
Macy’s said that Paula Price, the retailer’s evp/chief financial officer, is leaving the company as of May 31.
Macy’s Furloughs Majority Of Workforce
The COVID-19 outbreak continues to take a heavy toll on Macy’s business, and the retailer now plans to furlough the majority of its workforce.
Macy’s Reinforces Finances As Pandemic Grows
Macy’s, like many retailers, has taken several actions to position the company for financial flexibility in response to the continued spread and impact of COVID-19.
Updated: Williams Sonoma, Other Retailers Close Stores, Reduce Hours
A range of retailers across channels are responding to the coronavirus outbreak with moves to temporarily close their stores, reduce store hours and other consumer and employee oriented initiatives.
Macy’s Closing Stores Through March 31
As retail reacts to the coronavirus, Macy’s will temporarily close all stores by end of business on March 17 with stores remaining closed through March 31.
Macy’s Fiscal Year Didn’t Live Up To Expectations
The fourth quarter at Macy’s showed some promise, but comps and earnings still slipped, as they did for the fiscal year.
Macy’s Expands Loyalty Card Program
In conjunction with a recent operational reorganization, Macy’s is updating its loyalty program to give consumers more ways of participating.
Macy’s Reorganizes With Store Closings, Headquarters Consolidation
Macy’s is undergoing a substantial business reorganization, including closing 125 locations and developing non-department store formats, accelerating digital growth, enhancing its loyalty program and consolidating headquarters and management staff.
Macy’s And Zola Launch Wedding Registry Partnership
Macy’s and Zola, a registry and wedding planning platform, have launched a wedding registry partnership. Engaged couples can now register for over 2,000 of Macy’s private brand and exclusive gifts across bedding, bath, tabletop, and home, directly on Zola.
Wellness Theme Drives Story Shops At Macy’s
Story at Macy’s, the narrative-driven retail concept inside 36 Macy’s stores nationwide, has unveiled its latest theme: “Feel Good.” Through April 2020, the Feel Good Story brings a fresh focus on wellness and uses merchandise curation and events to explore simple and actionable ways for customers to find greater balance, energy and nourishment.