Who owns macys and bloomingdales

For the fiscal fourth quarter, which includes the critical holiday season, analysts had been calling for a 1. Macy's has been trying to win back customers, as shoppers head to the mall less frequently and shop more online. The department store chain has been refreshing its interiors and focusing on improving its product assortment. It also has been experimenting with new store formats such as Backstage, which aims to compete with off-price retailers like T. Macy's CEO Jeff Gennette said customers were responding to the fresh merchandise and its marketing, particularly in the days leading up to Christmas.

That was welcome news. In the fiscal third quarter , Macy's posted its first same-store sales decline in two years, and slashed its outlook for the year. Macy's attributed the drop to weakening foot traffic at its stores and unseasonably warm weather, which hurt demand for sweaters and jackets. But department stores as a whole have been struggling. Sales in the sector fell 1. During the holiday season, some retailers were offering steep discounts to bring people into their stores, which in turn will put pressure on profit margins.

Stores that sell apparel have been particularly challenged in recent quarters. Many industry watchers expect department store operators will need to shutter more locations in order to become more profitable. Macy's has already been through several rounds of store closures in recent years. Our recently expanded loyalty program is the most rewarding way to shop.

Customers can sign up in seconds to earn rewards no matter how they pay and enjoy amazing perks, like complimentary shipping, special offers, exclusive experiences and more. Our 59 th Street flagship in New York City is the heart of New York, spanning an entire square city block and representing the very best of what our brand has to offer.

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