The retailer that operates the Macy’s and Bloomingdales department store chains slipped 10 spots on this year’s list, but it ended fiscal year 2017 on a high note, reporting its first quarterly comparable sales increase since the end of 2014. After shuttering some 100 underperforming stores in the past year and seeing its headcount drop by 12% to 130,000, Macy’s is trying to stage a dramatic corporate turnaround amid a reckoning in traditional retail. Its comeback plan includes de-emphasizing discounting, ramping up exclusive products, and boosting its online shopping experience with services like faster delivery.
Looking for leads, investment insights, or competitive intelligence?
News about Macy’s
With 80 million Prime members, Amazon can really hurt clothing stores.
Moves like this could speed up the department store's metabolism and combat the stasis afflicting retail
That's 20% of Lord and Taylor's stores.
Penney's shares head to all-time lows.
It cut its profit forecast, unnerving Wall Street and sending shares down almost 15% in premarket.