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 last three months of the yr however achieved its finest owned, licensed and market comparable gross sales since 1Q 2022, with progress of 0.2 %.
THE DETAILS Macy’s First 50 areas delivered fourth quarter comparable gross sales progress of 0.8 % whereas Bloomingdales realized its highest fourth quarter owned, licensed and market comparable gross sales progress so far, up 6.2 % and Bluemercury reported comparable gross sales progress for the sixteenth consecutive quarter, with a 6.2 % rise.
THE WHY? Tony Spring, chairman and chief government 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 areas delivered 4 quarters of elevated gross sales, whereas our luxurious nameplates, Bloomingdale’s and Bluemercury, achieved accelerated annual gross sales progress. As we enter the second yr of our technique, we plan to scale initiatives which are resonating with our clients to drive long-term worthwhile progress and additional unlock shareholder worth.”
