Macy’s Hit High 3-High sales as a Turnaround program show strong progress
FOX Business Contributor KATrina Campirs comments on the ease of access, real estate and shopping in the ‘big money show.’
Macy’s sales hit their highest level in more than three years, marking a major step forward in its turnaround effort.
The retailer, which launched its dynamic program in 2024, highlighted two steps of progress with the latest report reserved for Rose for the second quarter, while selling a wide speed and its website, grew at a faster pace in 13 places.
Bloomingdale’s and Bluemercury, also owned by Macy’s Inc., also continued to grow. The three-month period ends in November. 1 marked the fifth straight quarter of sales growth compared to Bloomingdale’s and the 19th consecutive quarter of growth for Bluemercury.
Macy’s wants Bloomingdale’s to bloom, Bluemercury to stay put
The results come as shoppers have been gravitating toward Macy’s power play categories.
The retailer, which launched its dynamic plan in 2024, highlighted two areas of progress in its latest report covering the three-month period ending November. 1. (David Paul Morris/Bloomberg via Getty Images/Getty Images)
A research note from JPMORGgan analysts led by Matthew Persona categories “gifts” such as sweats, pajamas, sneakers and purses. Analysts noted that Coach bags were very popular on Black Friday and were mostly selling at full price at Macy’s.
Analysts said that while retailers expected consumers to pull back this quarter, new products and aggressive product marketing led to customers buying more items at full price despite price increases.
How to turn Macy Business around as the department keeps struggling
Customers shop for shoes at a Macy’s store in Austin, Texas. (BANDON Bell/Getty Images/Getty Images)
Jpmorgan’s tracking shows that most retailers have maintained the same or lower promotions than last year.
Stores also entered the holiday season with a leader, portable health, giving them more flexibility to chase trends without requiring heavy discounts, according to analysts. This means that department store retailers, including Macy’s, have been able to sell new products at full price this season, helped by bright promotions and the Leaner Note.
Macy’s store closings are accelerating this year
The latest results are a milestone for the department store, which was forced to implement a strategy that included closing about 150 stores to “return” to continued, profitable sales. ”
The latest results are a landmark for Macy’s, which has been forced to implement a strategy that includes closing as many as 150 “underground” stores by the end of 2026. (Ethan Swape / Getty Images)
The problem is that Macy’s, as well as the established department store, Premier, had long been struggling to keep up with the rapid changes in competition and competition.
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Barrington Capital CEO Jim Mitarotonda previously told FOX Business that Macy’s needed to continue its innovation by putting exciting products in stores and holding engaging events. to attract domesticated generations back in its brick and mortar areas.
“If the product isn’t exciting, they are [customers] I will not go to the store or even come through the Macy’s website. It just won’t happen. So it’s really about the product and creating exciting events to drive people into the store,” Mitarotonda said.
