macy s news
Wall Street’s worries about weak consumer spending revived Thursday, sending stocks lower as bad news from Wal-Mart Stores Inc. signaled that even the stronger U.S. retailers struggled during the holiday shopping season. [1]
FAO Schwarz will open toy stores in nearly 700 Macy’s department stores over the next two years in a move that both stores hope will drive traffic in a tough economic environment. [2]
“We believe the right answer is to reallocate our resources to place more emphasis and talent at the local market level to differentiate Macy’s stores, serve customers and drive business. [3]
- It was a bleak Christmas and promises to be a less than prosperous New Year for retailers with consumers tightening their belts and spending less, reports the Wall Street Journal. [...] Retail sales dropped 5.5% in November and 8% in December, compared with the same months last year. [4]
Even Wal-Mart ’s December sales results are disappointing Pedestrians walk past Generations Menswear on 8th Ave. in New York. [1]
“Improving sales and earnings performance requires innovation in engaging our customer more effectively in every store, as well as reducing total costs,” said Terry J. Lundgren, Macy’s, Inc. chairman, president and chief executive officer. [3]
If you would like to tell us more facts about this story, please click here to send the editors of ABC News a separate email with the information you have. [2]
As part of the transition process, Jeffrey Gennette, currently chairman and chief executive officer of Macy’s Northwest, will relocate to San Francisco as chairman and chief executive officer of Macy’s West. [...] Called “My Macy’s,” a localization initiative was developed over the past year based on customer research, as well as input from Macy’s store managers, senior division executives, merchandise vendors and industry experts. [3]
Macy’s CEO Terry Lundgren told shareholders that FAO Schwarz will open stores in up to 275 of Macy’s stores this fall, and the companies plan to expand over the next two years to include 685 Macy’s stores that have children’s departments. [2]
The Nasdaq lost 81.69 points to close at 1,499, while the S&P 500 lost 46.65 points to settle at 852. [...] - Stocks plunged again today as another wave of poor earning reports soured investor sentiment, the Wall Street Journal reports. [4]
“Not only did it perform beyond our expectations, the entire children’s apparel business performed well above our expectations,” he said. [2]
Macy’s Inc is expected to announce as soon as Thursday it will close 10 locations, the Wall Street Journal reported citing a person familiar with the matter. [1]
Sources:
[1] Macy’s News | Business
[2] ABC News: Macy’s Signs Deal to Put FAO Schwarz in Its Stores
[3] Press Release - Macy’s, Inc.
[4] News Articles Relating To Macys.