Macy's | Verdict Company Briefing
Report description
Macy’s long-term strategies such as its localization initiative My Macy’s and its focus on e-commerce are resonating well with consumers and boosting sales, ensuring the retailer is encroaching on Sears’ market leader position. This Verdict company briefing includes analysis of sales and space data over a six year period and a global market share for 2011.
- Benchmark Macy's performance by discovering its six year sales and space history.
- Understand how to introduce exclusive celebrity ranges by learning about Macy's designer and celebrity partnerships.
- Consider how to enter the discount market by understanding how Macy's has launched its Bloomingdale's Outlet fascia.
- Learn how to enter international markets via e-commerce by learning how Macy's has rolled out international delivery for its online shops.
Macy’s net sales grew by 5.6% to $26,405m in FY2012, with same-store sales up by 5.3%. E-commerce sales increased by 39.6%, aided by the increased number of international delivery locations and the use of local currencies in the purchasing process, although costs rose due to the expansion of free shipping on macys.com from Q4 FY2011.
In March 2012, Macy’s announced it is revamping its Herald Square department store to launch the “World’s Largest Shoe Floor”. The $400m revamp will take 4 years, with the first phase completed by late 2012. This will give Macy’s a competitive advantage over rivals and further enhances its Herald Square store as a key shopping destination.
Bloomingdale’s has launched a new customer loyalty program. It does not require shoppers to have a credit card with the retailer; enabling more consumers to take part. It provides shoppers with an incentive to shop at Bloomingdale’s, which encourages repeat purchases and garners loyalty at a time when consumers are making more considered purchases.
- What was Macy's share of the global department store market in 2011?
- How has Macy's domestic store network changed over time? And how has its Bloomingdale's fascia expanded internationally?
- How has Macy's targeted younger and more fashion conscious consumers through designer collaborations?
Table of contents
•Introduction
•Summary
MACY'S
•Macy's is expanding its Bloomingdale's fascia internationally
Macy's is the group's dominant department store brand and targets mid-market consumers
Bloomingdale's targets upmarket consumers with its commitment to designer brands
•Recent key events
Macy’s to revamp its Herald Square store
Bloomingdale’s launches new loyalty scheme
Macy's has extended the scope of its online channel's international delivery
Macy's becomes more green with the launch of eco-friendly measures instore
Macy's has expanded its range of brands targeting young consumers
Both Macy's and Bloomingdale's are targeting the outlet market
Bloomingdale's has opened its first international store in Dubai
•Financials
Macy's sales growth continued in FY2012
•Space
Macy’s has worked to strengthen its portfolio by closing underperforming stores
New Macy’s stores announced for 2013 and 2014, while closures continue in 2012
Bloomingdale's has embarked on expansion geographically and via new formats
•Outlook
Macy’s will further encroach on Sears’ market leader position as initiatives come to fruition
APPENDIX
•Exchange rates
•Further reading
•Ask the analyst
•Verdict consulting
•Disclaimer
TABLES
•Table: Macy's company overview, 2012
•Table: Macy's operating statistics, 2007–12
•Table: Macy's Inc. store portfolio, 2007–11
FIGURES
•Figure: Macy's flagship store, Herald Square, New York, 2011
•Figure: The Karl Lagerfeld for Macy's collection, 2011
•Figure: The Giambattista Valli for Macy's collection, 2011
•Figure: Macy's turnover ($m) and operating margin (%), 2007–12 OVERVIEW •Introduction •Summary MACY'S •Macy's is expanding its Bloomingdale's fascia internationally ?Macy's is the group's dominant department store brand and targets mid-market consumers ?Bloomingdale's targets upmarket consumers with its commitment to designer brands •Recent key events ?Macy’s to revamp its Herald Square store ?Bloomingdale’s launches new loyalty scheme ?Macy's has extended the scope of its online channel's international delivery ?Macy's becomes more green with the launch of eco-friendly measures instore ?Macy's has expanded its range of brands targeting young consumers ?Both Macy's and Bloomingdale's are targeting the outlet market ?Bloomingdale's has opened its first international store in Dubai •Financials ?Macy's sales growth continued in FY2012 •Space ?Macy’s has worked to strengthen its portfolio by closing underperforming stores ?New Macy’s stores announced for 2013 and 2014, while closures continue in 2012 ?Bloomingdale's has embarked on expansion geographically and via new formats •Outlook ?Macy’s will further encroach on Sears’ market leader position as initiatives come to fruition APPENDIX •Exchange rates •Further reading •Ask the analyst •Verdict consulting •Disclaimer TABLES •Table: Macy's company overview, 2012 •Table: Macy's operating statistics, 2007–12 •Table: Macy's Inc. store portfolio, 2007–11 FIGURES •Figure: Macy's flagship store, Herald Square, New York, 2011 •Figure: The Karl Lagerfeld for Macy's collection, 2011 •Figure: The Giambattista Valli for Macy's collection, 2011 •Figure: Macy's turnover ($m) and operating margin (%), 2007–12
Related research categories
By company: Macy's Inc
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