Macy's news and archive

Macy’s delays Q3 results after discovering employee hid millions in expenses

Macy’s has delayed its third quarter results after discovering that one of its employees hid nearly 132 million dollars to 154 million dollars in delivery expenses over the last three years. The company’s net sales for the quarter decreased 2.4 percent to 4.742 billion dollars, with comparable sales down 2.4 percent on an owned basis and down...

People

Macy’s appoints new SVP, creative and production

US department store giant Macy’s has announced the appointment of Jason Holzman as its new senior vice president of creative and production. In the role, Holzman will oversee the creative (design and copy), photo studio and marketing operations teams. Reporting to chief marketing officer Sharon Otterman, Holzman has been tasked with initiating...

Business

Macy’s launches new private menswear brand Mode of One

US department store Macy’s has launched a new contemporary menswear brand, Mode of One, as part of ongoing efforts to reimagine its private brand portfolio. The line, which is available on Macy’s e-commerce site, its mobile app and in nationwide stores, was created over a two year span of concepting and designing, reflecting what the company...

Business

Target, TJX & Macy's Q2 earnings top all estimates

Retailers Target Corp. (TGT), TJX Cos. Inc. (TJX) and Macy's, Inc. (M) reported Wednesday profits for the second quarter that topped analysts' estimates. Quarterly revenues at Target and TJX also beat estimates, while it misses by a whisker at Macy's. The improved results at the retailers were driven by gross margin expansion. Target and TJX...

BusinessFeatured

Macy's lowers full year sales outlook amid difficult consumer environment

Macy’s has lowered its annual outlook to reflect the difficult consumer environment and now expects net sales to be in the range of 22.1 billion dollars to 22.4 billion dollars with comparable sales change of down between 1.5 to 2 percent. For the second quarter, Macy’s reported diluted and adjusted diluted earnings per share of 53 cents. Net...

Business

Macy’s expands media network through AI-driven Rokt partnership

Macy’s Media Network, the in-house media platform of the US department store giant, has said it is expanding its retail media capabilities via an expanded partnership with AI and machine-learning tech provider Rokt in order to provide a more personalised experience for shoppers. In a release, vice president of the Macy’s media division, Michael...

Fashion

Macy’s relaunches kidswear line Epic Threads

American retailer Macy’s has relaunched its kid’s clothing line, Epic Threads celebrating the “spirit of childhood,” as it looks to modernise its private brand. In a statement, Macy’s said the refresh of Epic Threads focuses on “playful and expressive clothing and accessories to fit the needs of every kid,” offering versatile and stylish...

Business

Macy’s ends acquisition talks with Arkhouse and Brigade Capital

Macy’s has announced that, following over seven months of engagement with Arkhouse and Brigade Capital, its board has decided to terminate discussions that failed to lead to an actionable proposal with certainty of financing at a compelling value. The company’s management team will return its full focus on enhancing shareholder value through the...

People

Macy's promotes Keith Credendino to CIO

US retail group Macy's has filled a key position in the promotion of Keith Credendino to chief information officer (CIO), a post he will take up from August 4. He succeeds Laura Miller, who is retiring. The CIO-designate joined Macy's in 2022 and has since served as senior vice president of technology product development, customer experience. In...

BusinessFeatured

Macy's banks on turnaround, ups earnings forecast

For the first quarter, Macy’s diluted earnings per share were 22 cents and adjusted diluted earnings per share were 27 cents compared to 56 cents in the same quarter of 2023. Net sales of 4.8 billion dollars were down 2.7 percent, comparable sales were down 1.2 percent on an owned basis and down 0.3 percent on an...

Fashion

LIM College student wins first FGI Future Fashion Award in collaboration with Macy's

On Monday, Fashion Group International (FGI) held its rising star award ceremony luncheon event 2024 in New York City, where the new Future Fashion award for students, in collaboration with Macy’s, was awarded for the first time. LIM College student Fatmata Camara was the lucky winner. With its Rising Star Awards, FGI aims to put emerging...

Fashion

Future Fashion Award: FGI and Macy’s to honour outstanding US college student

Today, May 13, Fashion Group International (FGI) will hold the awards ceremony for its annual Rising Star Awards, which aim to celebrate up-and-coming talent in the fashion and beauty industry. At this year’s edition, FGI will present a new award, entitled Future Fashion Award, dedicated to college students. The awards honour emerging talent in...