11 124
Fashion Jobs
PENTLAND
Customer Operations Executive (Edi)
Permanent · SUNDERLAND
PENTLAND
Creative Team (Art Director + Copywriter)
Permanent · LONDON
MARKS&SPENCER
Senior Project Manager - International
Permanent · LONDON
MARKS&SPENCER
Project Manager - Ecom Distribution
Permanent · CASTLE DONINGTON
MARKS&SPENCER
Assistant Commercial Manager (B2B Gift Cards)
Permanent · LONDON
MARKS&SPENCER
Assistant Digital Marketing Manager (Marketplaces)
Permanent · LONDON
MARKS&SPENCER
Marketplace Planner (Junior Merchandiser)
Permanent · LONDON
UNILEVER
Regional Business Development Manager
Permanent · KINGSTON UPON THAMES
URBN
Urban Outfitters Stockroom Receiver - Manchester, UK (25 Hrs)
Permanent · MANCHESTER
EVERLAST GYMS
Systems & Data Coordinator
Permanent · SHIREBROOK
HENKEL
Key Account Manager - High Street And Value
Permanent · HEMEL HEMPSTEAD
FASHION PERSONNEL
Allocator
Permanent · LONDON
FASHION PERSONNEL
Demand And Supply Planning Executive
Permanent · LONDON
FASHION PERSONNEL
E-Commerce Administrator
Permanent · LONDON
FASHION PERSONNEL
Digital E-Commerce Coordinator
Permanent · LONDON
FASHION PERSONNEL
National Account Manager
Permanent · LONDON
FASHION PERSONNEL
Deputy General Manager
Permanent · MANCHESTER
FASHION PERSONNEL
Facilities Coordinator
Permanent · LONDON
FASHION PERSONNEL
Senior Buyer - Accessories
Permanent · LONDON
FASHION PERSONNEL
Senior Marketing Manager
Permanent ·
FASHION PERSONNEL
Senior Trimmings Buyer
Permanent · LONDON
FASHION PERSONNEL
Trims Buyer
Permanent · LONDON
Published
Jan 8, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Macy’s posts stronger than expected holiday sales, announces 29 store closures

Published
Jan 8, 2020

Cincinnati, Ohio-based department store operator Macy’s, Inc. reported slight declines in same-store sales over the holiday period on Tuesday, and announced the upcoming closure of 28 Macy’s locations and one Bloomingdale’s store.


Analysts had expected Macy's to post a larger decline in sales over the holiday period - Instagram: @macys

 
The retailer posted a 0.6% decrease in comparable sales during November and December 2019, reassuring analysts, who had expected a larger decline of around 1.8%, according to IBES data from Refinitiv.
 
Analysts’ optimism had faltered in November, when Macy’s cut its annual profit outlook for the second time in the fiscal year, following a weak third quarter which saw comparable sales in the retailer’s owned and licensed locations fall 3.5%.

After the announcement of the company’s holiday sales results, shares in Macy’s rose as much as 5% on Wednesday.
 
In a press release, Macy’s chairman and CEO Jeff Gennette highlighted the strong results seen in the company’s digital business and at its top 150 performing stores over the holiday period, praising the success of the retailer’s gifting assortment and marketing strategy.
 
“The entire organization committed to delivering Holiday 2019, and it showed up in our execution,” he added.
 
As reported by Reuters, Macy’s has also announced that it will be shuttering a total of 29 stores in the coming weeks. A spokesperson from the company said that the closures are part of a routine review of the retailer’s store portfolio but did not provide any further details.
 
Since 2016, the company has closed a string of brick-and-mortar locations as it has increasingly focused its investments on developing its e-commerce platform, as well as its 150 top-performing stores.
 
Macy’s currently operates around 680 locations across the U.S. under the Macy’s and Bloomingdale’s banners, as well as 190 specialty stores under the Bloomingdale’s The Outlet, Bluemercury, and Macy’s Backstage brand names. The company employs approximately 130,000 people.

Copyright © 2024 FashionNetwork.com All rights reserved.