Blog: Leonie BarrieMacy'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?

Macy’s firm on FY outlook despite $59m Q1 loss


BLOG

Busana Apparel on an expansion drive

Busana Apparel Group, Indonesia's largest woven apparel exporter, is on a drive to expand its domestic capacity, has set up its first factory in Ethiopia, is exploring opportunities in Vietnam, and ey...

BLOG

Act now to keep receiving just-style newsletters

You may have noticed a red alert bar at the top of just-style’s weekly and daily newsletters asking you to “Act now to keep receiving the just-style newsletter.” ...

BLOG

Apparel imports into the US rose in June

Apparel imports into the US rose in June as merchants stocked up for summer and prepared for the back-to-school season, with imports from Vietnam continuing to surge....

BLOG

US retailers under pressure to grow sales as mall traffic slows

Under Armour is to close stores and cut jobs – around 2% of the company's global workforce – as part of new plans to build a stronger and smarter company with faster go-to-market speed and greater dig...

just-style homepage



Forgot your password?