Macy's Inc
Deal-hungry shoppers will squeeze holiday sales growth to pre-pandemic levels, retail group says
Holiday shoppers are expected to spend more this year, but their eagerness for value and hunger for deals is likely to push that growth back down to pre-pandemic levels, according to the National Retail Federation. The major trade group expects sales in November and December to rise by 3% to 4% year over year. That […]
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A credit card Christmas: Taking on shopping debt carries more risk this holiday season
A person walks past a Christmas lighting display in a window at Bulbs NYC lighting store near Union Square in New York City, Dec. 20, 2022. Alexi Rosenfeld | Getty Images Shoppers are springing for holiday gifts and decorations, but bustling mall traffic, full shopping bags and large hauls under the Christmas tree could hide […]
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Walmart beefs up its third-party marketplace as it challenges bigger online rival Amazon
Walmart hosted its first seller summit for its third-party marketplace this summer. At the invitation-only event, CEO Doug McMillon made his pitch on why small businesses and brands should work with the retail giant. Walmart It was summer in Las Vegas — the temperature hit nearly 110 degrees that late August day — but Christmas […]
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Levi Strauss cuts full-year sales forecast again, as inflation takes a toll
Levi’s 501 blue jeans on display. Sean Gallup | Getty Images Levi Strauss on Thursday cut its full-year sales forecast, as it missed Wall Street’s quarterly revenue expectations and was dragged down by weaker shopping trends at department stores and big-box retailers across the U.S. Shares fell more than 3% in extended trading. The company’s […]
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Macy’s will open up to 30 stores, as department store looks to strip malls as key part of its future
Macy’s is opening more small-format stores across the country. They are roughly one fifth the size of its typical locations. Macy’s Macy’s on Tuesday said it will open up to 30 smaller stores in strip malls over the next two years, as the retailer chases customers out of dying malls and into bustling suburbs. The […]
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Toys R Us is planning a brick-and-mortar comeback in the U.S., with up to 24 new flagship stores
Toys R Us is plotting a bold comeback in the U.S., as it plans to expand its brick-and-mortar presence with as many as 24 new flagship stores and a separate rollout at airports and on cruise ships starting this holiday season. The toy retailer’s parent company, WHP Global, announced what it called the “Air, Land […]
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Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat
Nike reported revenue Thursday that fell short of Wall Street’s sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading. Here’s how the sneaker giant performed during its fiscal first quarter compared with what Wall Street was anticipating, based on […]
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Macy’s-owned Bloomingdale’s taps international exec Olivier Bron as its next CEO
Shoppers walk past a Bloomingdale’s store in the SoHo neighborhood of New York, US, on Wednesday, Dec. 28, 2022. Victor J. Blue | Bloomberg | Getty Images Macy’s said Tuesday that it has tapped international retail executive Olivier Bron as the next CEO of its upscale department store, Bloomingdale’s. Bron will succeed Tony Spring. A […]
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How much are retailers losing to shrink and theft? In many cases, it’s not the main drag on profits
Anti-theft locked beauty products with customer service button at Walgreens pharmacy, Queens, New York. Lindsey Nicholson | Universal Images Group | Getty Images A range of retailers are again blaming shrink as one of the reasons they saw another quarter of lackluster profits. But some of those companies have started to offer more detail than […]
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Walmart cuts starting pay for new hires who prepare online orders, stock shelves
A worker stocks the shelves at a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. Joe Raedle | Getty Images News | Getty Images Walmart has cut starting pay […]
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