THE WHAT? Macy’s Inc has reported its outcomes for the fourth quarter and full fiscal yr 2024. The US division retailer operator noticed comparable gross sales dip 1.1 % on an owned foundation within the ultimate three months of the yr however achieved its finest owned, licensed and market comparable gross sales since 1Q 2022, with development of 0.2 %.
THE DETAILS Macy’s First 50 places delivered fourth quarter comparable gross sales development of 0.8 % whereas Bloomingdales realized its highest fourth quarter owned, licensed and market comparable gross sales development to this point, up 6.2 % and Bluemercury reported comparable gross sales development for the sixteenth consecutive quarter, with a 6.2 % rise.
THE WHY? Tony Spring, chairman and chief govt officer of Macy’s, Inc. “As we shut out the primary yr of the Daring New Chapter technique, investments within the buyer expertise enabled us to realize our highest comparable gross sales of the yr, our greatest efficiency in 11 quarters.
“At Macy’s, our First 50 places delivered 4 quarters of elevated gross sales, whereas our luxurious nameplates, Bloomingdale’s and Bluemercury, achieved accelerated annual gross sales development. As we enter the second yr of our technique, we plan to scale initiatives which are resonating with our prospects to drive long-term worthwhile development and additional unlock shareholder worth.”
