Macy's news and archive

Maly Bernstein is the new CEO of Bluemercury

Macy's, Inc. has announced the appointment of Maly Bernstein as chief executive officer of Bluemercury, effective September 13, 2021. In this role, the company said in a release, Bernstein will oversee the growth and strategy of all aspects of the Bluemercury brand, from its digital platform to stores. She will report to Tony Spring, chairman...

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Macy's aims to attract younger customers by investing in pet and health products

Department store chain Macy's, Inc. (M) on Tuesday unveiled plans to invest in new areas like toys, health and wellness, pets and home décor. These investment plans are part of the company's move to bring in young and new customers, even while retaining the existing ones. Commenting on the move, Chief Executive Jeff Gennette said, "Customers...

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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...

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Fast fashion retailers are closing their stores, shrinking global retail

The annus horribilis for global retailers in the fashion industry is yet to end. Covid-19 has been an ongoing catalyst for transformation and at worst had a Darwinian effect, spurring an international reduction of physical shops. According to Modaes, Spain’s economic fashion news outlet, an estimate of closures from three large players including...

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Macy’s announces leadership changes, eliminates COO role

Macy’s, Inc. has announced changes to its senior leadership team, which the company said are aligned with its recently updated Polaris growth strategy. “As a digitally led omnichannel retailer, Macy’s, Inc. is in the midst of an exciting transformation,” said Gennette. “We are building a diverse leadership team that includes a blend of new...

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Macy's reports positive Q4, upbeat outlook

For the fourth quarter, net income at Macy’s Inc. fell to 160 million dollars or 50 cents per share from 340 million dollars or 1.09 dollars per share. The company’s adjusted diluted earnings per share were 80 cents compared to analysts’ expectation of 12 cents per share. Sales doe the quarter dropped to 6.78 billion dollars from 8.34 billion...

Fashion

Macy’s appoints SVP, enterprise data & analytics

Macy’s, Inc. has announced that Xingchu Liu has joined the company as senior vice president, enterprise data & analytics, effective February 15, 2021. In this role, the company said in a statement, Liu is responsible for building and leading enterprise data & analytics team, which will focus on analytics governance, data management and...

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Macy’s promotes Nata Dvir to Chief Merchandising Officer

Macy’s, Inc. has announced that Nata Dvir has been named Chief Merchandising Officer of the Macy’s brand, effective February 1, 2021. She currently serves as Macy’s senior vice president and general business manager for beauty and center core merchandise. In her new role, the company said in a statement, Dvir will be responsible for leading Macy...

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2020: Online fashion sales zoom while physical retailers suffer

Fashion has been the most hard hit category by Covid-19 pandemic. Compulsory store closures, work from home schedules followed by low footfall at opened stores, negatively impacted sales at almost every brick and mortar fashion retailer. According to Reuters, the Office for National Statistics report showed that clothing sales declined 19...

Fashion

Macy's launches National Believe Week to benefit charity

Macy's is giving back this holiday season. The department store chain has announced the start of its National Believe Week - a letter-writing campaign that extends beyond its annual Believe Day. Believe Week will benefit the Make-A-Wish foundation, and continues through December 5. The retailer is asking customers to send a letter to Santa...

People

Macy's Inc appoints new senior vice president of corporate communications

Department store Macy’s Inc has appointed Malek Robert Amirshahi as the company’s new senior vice president of corporate communications, effective December 7. Amirshahi replaces Cheryl Heinonen, who will be leaving Macy’s, Inc. after the holiday season. He will report to the chief transformation and human resources officer at Macy’s Inc,...

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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...