Blog: Macy's on the mend?
Leonie Barrie | 16 May 2008
On top of all the general economic worries it’s facing in line with the rest of its competitors, Macy’s Inc has another challenge on its hands: trying to lure back customers alienated by an ill-fated plan to integrate the May Department Stores chain it acquired in 2005.
While now may not be the best time to be trying to engineer a turnaround, Macy’s seems to be faring slightly better than its department store rivals. Or is it?
The retailer might have posted a US$59m loss in the first quarter, but its results were better-than-expected, same-store sales were up, the company appears to be capturing market share, and it even reaffirmed full-year guidance.
But some still believe the restructuring isn’t all it's cracked up to be. The ‘My Macy’s’ campaign to tailor merchandise to reflect the demands of local markets in the US is widely seen as the right way forward, but does the retailer have the ability to deliver on its promise? Are being big and unique at the same time a contradiction in terms? And does the organisation really have the capability to realise the benefits?
Confirmation that digital supply chains are top of mind for apparel industry executives came last week with the latest plans from global sourcing specialist Li & Fung....
As a barometer of the issues top of mind for apparel sourcing executives, it is hard to beat the annual Prime Source Forum in Hong Kong. ...
Over the past month, Donald Trump and his team failed to offer any clear plan to ensure Americans would "Buy American, Hire American" - while the British government's attempts to clarify the specifics...
The Bangladesh government was forced to respond late last week to pressure over its crackdown on labour activists after a number of global brands and retailers, including H&M and Inditex announced pla...
- Rana Plaza four years on – Timeline of change
- Trump and Brexit get a dose of pragmatism
- Why collaboration is key to fashion supply chains
- Industry groups reaffirm commitment to Bangladesh
- Using worker surveys to drive supply chain change
- Adidas to digitalise Speedfactory concept
- Nike filed patent for "reinforced denim"
- M&S extends sourcing deal with Lindsey brothers
- Gap unveils five-year sustainable fibres pledge
- Adidas and Reebok top transparency index
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Outdoor performance apparel 2016: A broader perspective