Bloomingdale's news and archive

Macy's posts profit, raises full year forecast

Macy’s For the first quarter, Macy’s Inc. reported diluted earnings per share of 32 cents and adjusted diluted earnings per share of 39 cents. The company said, adjusted diluted earnings per share for the quarter exceeded first quarter 2019 by 4 cents. The company’s posted net income of 103 million dollars. Excluding asset sale gains, comparable...

RetailFeatured

Bloomingdale's focuses on sustainability with new Stella McCartney collab

Bloomingdale’s has launched a two-month activation to introduce its customers to sustainable fashion. The department store opened Stellabration within The Carousel @ Bloomingdale’s - the retailer’s rotating pop-up shop in the 59th street flagship that changes every two months. Stellabration honors Stella McCartney’s leadership in sustainability,...

Business

Macy's reports drop in Q3 sales

Macy’s, Inc. reported third quarter net sales of 3,990 million dollars compared to 5,173 million dollars in the third quarter of 2019. Comparable sales were down 21 percent on an owned basis and down 20.2 percent on an owned plus licensed basis, due to continued stores recovery and continued growth of digital business. Macy’s said diluted loss...

Business

Macy's swings to loss but strong online growth boosts sales

For the second quarter, Macy’s, Inc. total sales declined to 3,559 million dollars. Comparable sales for the period were down 34.7 percent on an owned basis and down 35.1 percent on an owned plus licensed basis, due to faster paced store recovery than originally modeled and better than expected growth of digital business. The company’s digital...

Business

Macy's suspends Q2 dividend, withdraws outlook

Macy’s, Inc. has announced an update on several actions it has taken to position the company for financial flexibility in response to the continued spread and impact of COVID-19. The company said in a statement that it has access to a revolving credit facility that provides for borrowings and letters of credit in an aggregate amount of 1.5...

Retail

Macy's temporarily closes all brand stores

Macy’s to temporarily close all stores In response to the widespread COVID-19 outbreak, Macy’s, Inc. has decided to temporarily close all stores through March 31, 2020. This, the company said in a statement, includes all Macy’s, Bloomingdale’s, Bluemercury, Macy’s Backstage, Bloomingdales the Outlet and Market by Macy’s stores. “The health and...

BusinessFeatured

Macy’s to close 125 stores, cut 2000 positions to drive growth

Announcing an updated strategy and three-year plan designed to stabilize profitability and position the company for growth, Macy’s Inc. said, the company plans to close approximately 125 of its least productive stores over the next three years, including approximately 30 stores that are in the process of closure now. Macy’s is also streamlining...

Fashion Featured

Macy's and Bloomingdale's ban the sale of fur across all platforms

Macy's, Inc. will stop selling fur by the end of the 2020 fiscal year. Under this new fur-free commitment, stores across Macy's and Bloomingdale's private labels, as well as their off-price stores Macy's Backstage and Bloomingdale's The Outlet will no longer sell fur. The company will also close its Fur Vaults and salons. “Over the past two...

Retail

Bloomingdale's announces a clothing rental subscription

Bloomingdale's is the latest retailer to throw its hat into the clothing rental ring. The luxury department store has announced that a new subscription service to rent designer womenswear will launch through its e-commerce site in September. Called “My List at Bloomingdale’s," the service will cost 149 dollars per month and allow subscribers to...

Business

Macy’s declares quarterly dividend of 37.75 cents per share

The board of directors of Macy’s, Inc. has announced a regular quarterly dividend of 37.75 cents per share on Macy’s, Inc.’s common stock, payable October 1, 2019, to shareholders of record at the close of business on September 13, 2019. In its second quarter trading update, the company reported diluted and adjusted diluted EPS of 28 cents...

People

Frank Doroff to retire from Bloomingdale’s in February 2019

Macy's, Inc. has announced that Frank Doroff, Bloomingdale's vice chairman and general merchandise manager for ready-to-wear, Bloomingdales.com and concessions, has made the decision to retire, effective February 8, 2019. The company said that Bloomingdale's has appointed Denise Magid as executive vice president and general merchandise manager...

Business|ANALISIS Featured

Macys.com and Bloomingdales.com U.S. e-commerce sites hacked

The department store revealed Monday that a third party gained access to accounts on Macys.com and Bloomingdales.com using valid usernames and passwords between April 26 and June 12. Macy’s said that “a small number” of its customers were affected by the breach although didn’t specify how many and said only that the data was obtained from a...