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.
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News about Macy’s
Sales fell 5.8% despite a strong consumer environment.
The luxury retailer will have a focus on high-end LG appliances.
The department store clocked yet another stellar quarter.
Slow cookers, slippers, and plushes are on the house (after rebate).