MACY’S news and archive

Macy's downgrades full year outlook

Macy's, Inc. comparable sales for the November and December 2018 combined increased 0.7 percent on owned basis and by 1.1 percent on owned plus licensed basis. The company has also downgraded its full year outlook. "We delivered our second consecutive year of positive holiday comparable sales, driven largely by the traction of our strategic...

Management

2018, the year hackers put a target on the fashion industry

New York - This year, the world of fashion has been strongly affected by cyberattacks. From Amazon to Macy’s, we review the main hacks targeting the international textile industry. Hackers, cyberattacks and cybersecurity are some of the new words that have been cast within the everyday language of virtually every industry. The world of fashion...

BusinessFeatured

2018, the year hackers put a target on the fashion industry

Retail

Macy’s exiting the Chinese market

Macy’s is withdrawing from China completely by the end of this year. After shutting down its Shanghai store in 2015 and taking down its standalone Chinese website in June, the American department store has decided to also stop operating within Alibaba’s marketplace Tmall. In a statement published on its soon-to-be-closed page, the company...

ManagementFeatured

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...

Retail

Macy’s downsizes stores for its new growth strategy

Macy’s announced earlier this week that despite its four consecutive quarters of sales growth in its current retail locations, it plans to cut down on square footage in a number of their stores. As the department store chain sees its consumers shifting more towards online shopping, it has come up with a strategy to better use its brick and...

Report

Macy's Q3 revenues increase, updates full year guidance

American department store operator Macy's said on Wednesday its Q3 revenue for 2018 increased by 2.3 percent. Revising its guidance for the full year, Macy's now expects comparable sales on owned plus licensed basis to grow in the range of 2.3 percent to 2.5 percent, net sales growth between 0.3 percent to 0.7 percent and diluted EPS excluding...

Retail

Facebook opens pop-up stores at Macy’s

Facebook is the latest company going from clicks to bricks. The Internet giant responsible for social networks Facebook and Instagram has opened nine pop-up stores inside Macy’s locations across the United States to sell products from 100 small businesses and digital-native brands which are present on their platforms. “Every day, million of...

Report

Macy’s announces quarterly dividend of 37.75 cents

The board of directors of Macy's, Inc. has declared a regular quarterly dividend of 37.75 cents per share on the company’s common stock, payable on January 2, 2019, to shareholders of record at the close of business on December 14, 2018. For its second quarter and first half, the company reported revenue growth of 1.1 percent....

Report

CEO of UPS joins Macy’s Board of Directors

Department store chain Macy’s has announced the appointment of David Abney, CEO of United Parcel Service Inc. (UPS), to its board of directors, effective October 25. “David is a strong leader who understands what we need to win in this dynamic, competitive retail environment”, said Macy’s CEO, Jeff Gennette, in a statement. “We are excited to...

Report

David Abney joins Macy's board of directors

Macy’s, Inc. has appointed David Abney, Chairman and Chief Executive Officer of United Parcel Service, Inc., to its board of directors, effective October 25, 2018. The company said in a statement that Abney has held the roles of chairman and chief executive officer of UPS, Inc. since 2016 and 2014, respectively. He previously served as chief...

Fashion

Izzy Camilleri relaunches adaptive apparel brand

Canadian designer Izzy Camilleri is relaunching IZ Adaptive, her ready-to-wear brand for adults with physical disabilities. First launched in 2009 and discontinued in 2016, the label comes back with a broader product offering and more accessible prices. The pieces are available at a number of retailers, including Zappos and Macy’s, from today. “...