April 6, 2018
For Macy’s, which will hold its 80th annual Thanksgiving Day Parade this week, the news isn’t all bad. Although the retailer has lowered its forecast for the fourth quarter and full year, it did experience a strong third quarter, with a profit of $33 million. Women’s fashion has been a challenge for Macy’s, according to CFO Karen Hoguet, who attributes that to “ho-hum fashions and warm weather keeping shoppers away.” However, she added, “Bucking the trend are Macy's online sales and the new Martha Stewart housewares and home goods. Martha Stewart is selling so well, her goods appear to be lifting sales in furniture and Macy's other homefurnishings business.” So it’s not all rain on the Macy’s parade after all.
Have a Happy Thanksgiving!
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.