Tag Archives: Macy's Inc

National Retail Federation boosts its annual forecast, expects ‘fastest growth that we’ve seen in this country since 1984’

Shoppers wear protective masks inside the Glendale Galleria shopping mall in Glendale, California, on Thursday, May 6, 2021. Bing Guan | Bloomberg | Getty Images One of the country’s largest retail trade groups, the National Retail Federation, boosted the industry’s outlook for the year on Wednesday, saying it anticipates “the fastest growth that we’ve seen […]

Lines between men’s and women’s fashion are blurring as more retailers embrace gender-fluid style

The off-price retailer Saks Off Fifth has teamed up with The Phluid Project to create a line of gender-fluid apparel, coinciding with Pride Month. Source: Saks Off Fifth For Christina McCann, shopping at the mall involves sifting through the women’s and the men’s aisles in search of the perfect outfit. McCann, who is nonbinary, often […]

Nordstrom shares fall as earnings and 2021 outlook disappoint

Nordstrom reported Tuesday better-than-expected fiscal first-quarter sales, as shoppers showed up to its stores again to buy new shoes, sunglasses and swimwear for social outings. But its stock tumbled around 7% in extended trading as the retailer booked a wider-than-expected loss, and maintained its full-year outlook, despite other retail rivals boosting their forecasts in recent […]

After George Floyd was killed, retailers pledged to put Black-owned brands on shelves. Here’s how it’s going

Cora and Stefan Miller started a hair care company after they had their son, Kade, and struggled to find hair products for him. Young King Hair Care is now sold by Walmart and Target. When Cora Miller had her son, she discovered the baby had a full head of hair — and found few products […]

U.S. Covid cases hit lowest level since June as nation looks toward Memorial Day, summer travel

People crowd outdoor dining at a restaurant as coronavirus disease (COVID-19) restrictions are eased in Ann Arbor, Michigan, U.S., April 4, 2021. Emily Elconin | Reuters Covid cases in the U.S. have dropped to their lowest level since June as the nation prepares for Memorial Day weekend, the unofficial start of the summer travel season. […]

Kohl’s shares tumble despite the retailer’s strong sales beat and hiked outlook

Vehicles sit parked in front of a Kohl’s department store in Ashland, Ky. Luke Sharrett | Bloomberg | Getty Images Kohl’s shares tumbled Thursday, despite the company reporting fiscal-first quarter profit and sales that exceeded expectations and hiking its full-year forecast. It hinted at additional costs and supply chain headwinds that it may face in […]

Target sales jump 23% as exclusive brands, curbside pickup draw in shoppers

Target said Wednesday fiscal first-quarter sales rose 23%, as investments it made in exclusive brands and services like curbside pickup strengthened customer loyalty and kept them coming back. The retailer also said it is benefiting from rising vaccination rates, a reopening economy and busier social calendars: Customers gravitated to new merchandise, especially clothes. Some returned […]

Travel and leisure stocks take spotlight as stay-at-home names stall, Jim Cramer says

CNBC’s Jim Cramer on Tuesday said many Wall Street pros are out of touch with the American consumer and advised retail investors to get ahead of the bar on some stocks in the reopening trade. “The baton is now being passed from the stay-at-home names to the travel and leisure plays,” the “Mad Money” host […]

Macy’s reports surprise profit, retailer hikes full-year outlook

People walk past a Macy’s store in a Manhattan shopping district on August 12, 2020 in New York City. Spencer Platt | Getty Images Macy’s on Tuesday reported a surprise first-quarter profit, as stimulus checks and the Covid vaccine rollout gave consumers more money and greater confidence to head back to the mall and refresh […]

Cramer’s week ahead: Retail earnings and consumer spending

Investors will get to learn more about the pandemic’s ongoing impact on the consumer economy as retailers prepare to issue quarterly earnings reports, CNBC’s Jim Cramer said Friday. The industry will have its time in the spotlight on Wall Street after the Commerce Department on Friday said that retail sales were unchanged in the month […]

Mall owner Simon’s CEO sees shopper ‘euphoria’ as people return to stores

Shoppers ascend and descend escalators at the King of Prussia Mall, owned by Simon Property Group, United State’s largest retail shopping space, in King of Prussia, Pennsylvania. Mark Makela | Reuters The biggest U.S. mall owner Simon Property Group says shoppers are getting back to malls, but that it’s hard to predict what traffic trends […]

Retail stocks surge as Florida and New York announce plans to lift Covid restrictions

A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC A number of retail stocks surged Monday as investors looked for ways to buy into the economy reopening, after several large states further loosened Covid restrictions or suspended the measures entirely. The S&P Retail ETF closed Monday up 2%, as a host […]

Retailers boost livestreaming events in effort to almost double sales from them

Source: Bloomingdale’s PR On a recent weeknight, Jimmy Choo’s Creative Director Sandra Choi logged into Zoom to broadcast live to dozens of Bloomingdale’s customers. The livestreamed event, organized by the department store, ran for about 45 minutes, during which Choi highlighted some of the biggest trends she’s seeing in footwear this spring — chunky, jeweled […]

As more retailers turn to tech, Macy’s store employees score victory in challenging self-checkout in mobile app

People wear facemasks as they walk through Herald Square on January 8, 2021 in New York City. Angela Weiss | AFP | Getty Images When Macy’s rolled out a new self-checkout feature in its mobile app in 2018, the department store touted how customers could browse stores but skip the hassle of the checkout line. […]

From stimulus checks to pandemic busts: How investors will gauge earnings in the quarters ahead

A shopper walks by shelves in the paper products aisle of a store in Burbank, California, November 19, 2020. Robyn Beck | AFP | Getty Images In a typical earnings season, the rules of the game for investors can be relatively simple: Rising profits and strong year-over-year sales growth signal success. That formula won’t work […]