Macy's news and archive

Macy's appoints Daniel Leppo as head of merchandising for men's and children's clothing

US department store chain Macy’s has appointed a new executive to a key position. On Tuesday, the company announced the appointment of Daniel Leppo as Senior Vice President and General Merchandise Manager, Men’s and Kids’. In this role, he will lead the merchandising teams in both categories and report directly to Chief Merchandising Officer...

Retail

Good American continues retail expansion at Macy’s

Good American, the fashion and denim brand co-founded by Khloé Kardashian and Emma Grede, is continuing its retail expansion with American retailer Macy’s. This spring, Good American will launch at 36 Macy’s stores across the US to expand the retailer’s denim offerings. This will expand to 79 stores from autumn 2025. The Good American collection...

Retail

Celtic & Co. expanding in the US with Nordstrom and Macy’s

British heritage fashion brand Celtic & Co., known for its ethically sourced, sustainable knitwear, footwear and outerwear, is expanding into the US with Nordstrom and Macy’s with its spring/summer 2025 collection. Celtic & Co. worked in collaboration with Refined Networks, the global e-commerce platform for cross-border digital commerce used by...

People

Macy’s names company veteran as chief stores officer

US department store giant Macy’s has appointed Barbie Cameron as its new chief stores officer, a role she will take up from February 16. Cameron has been in the position in an interim capacity since August after serving as Macy’s senior vice president and regional director of stores, East Region, from early 2020. Now taking up the permanent...

BusinessFeaturedMember

Macy’s expects non-performing stores to impact Q4 sales

Macy’s has reaffirmed its fourth-quarter financial expectations, forecasting adjusted diluted earnings per share to fall within the previously announced range of 1.40 dollars to 1.65 dollars. The company also anticipates net sales to be near the lower end of its prior guidance, ranging from 7.8 billion dollars to 8 billion dollars. In a trading...

RetailMember

Macy’s to close 66 stores as part of “bold new chapter” strategy

Macy's has confirmed the closure of 66 Macy’s store locations across New York City and surrounding regions as a part of the bold new chapter strategy, which was announced in February 2024. The company said in a release that the plan is designed to return the company to sustainable, profitable sales growth which includes closing approximately 150...

PeopleFeaturedMember

Unwrapping in 2025 - Leadership overhauls beckon fresh beginnings: The turnaround strategies of new CEOs

2024 seemed to take shape as a period of transition for many of the industry’s biggest players as they looked to swiftly, yet effectively, turn around lacklustre financials and return to growth, profitability or both. To lead such strategies, many took to overhauling their leadership teams, naming new CEOs in the process who have come in guns...

RetailMember

Legacy retail brands stage comeback amid shifting consumer priorities

Traditional American retail brands are experiencing an unexpected renaissance in 2024, even as economic headwinds continue to reshape consumer behaviour. Market data from Placer.ai reveals a nuanced picture where heritage names are finding new relevance, particularly among millennial shoppers who once drove their initial success. Anthropologie...

BusinessMember

Macy’s identifies weakness in ‘internal control’ amid investigation into employee misstatements

US department store giant Macy’s has said that it had “identified a material weakness in its internal control over financial reporting” upon investigating an incident in which an employee allegedly hid around 151 million dollars of cumulative delivery expenses. The discovery was revealed in the company’s latest financial statement, in which it...

BusinessFeaturedMember

Macy's cuts full year earnings forecast

Confirming no material impact on its financial results after completion of delivery expense related investigation, Macy’s reported GAAP diluted earnings per share of 10 cents and adjusted diluted earnings per share of 4 cents for the third quarter. Macy’s now projects full year net sales to be in the range of 22.3 billion dollars to 22.5 billion...

BusinessFeaturedMember

Activist investors call for change at Macy’s, retailer responds

Two activist shareholders of Macy’s have called on the US department store giant to make a number of changes to its structure, including a possible sale of Bloomingdale’s, after it delivered “limited sustainable improvements” to operating results. In a press release and presentation addressing the retailer, Barington Capital Group LP and Thor...

BusinessFeaturedMember

Macy’s delays Q3 results after discovering employee hid millions in expenses

Macy’s has delayed its third quarter results after discovering that one of its employees hid nearly 132 million dollars to 154 million dollars in delivery expenses over the last three years. The company’s net sales for the quarter decreased 2.4 percent to 4.742 billion dollars, with comparable sales down 2.4 percent on an owned basis and down...