Sponsors
Billabong ▼ 0.000 | PPR ▼ -7.85 | American Apparel ▼ -0.05 | The Buckle ▼ -0.08 | Columbia ▼ -7.47 | Deckers Outdoor ▲ +5.27 | Dicks ▼ -0.65 | Foot Locker ▼ -1.10 | Genesco ▼ -1.91 | Iconix Brand Group ▲ +0.02 | Jarden Corp ▼ -0.26 | Nordstrom ▼ -0.68 | Luxottica ▲ +0.83 | Nike ▼ -0.88 | Pacific Sunwear ▼ -0.08 | Skullcandy ▼ -0.04 | Sport Chalet ▼ 0.00 | Urban Outfitters ▼ -0.38 | VF Corp ▼ -0.68 | Quiksilver ▼ -0.15 | Zumiez ▼ -1.19 | Macys ▼ -0.46 | Tillys ▲ +0.08 |
Ticker Sponsor
Readers Say
The most up-to-date information
The most up-to-date information

“Shop-Eat-Surf is a great source for the most up to date information of what is going on in our industry. I always enjoy reading the articles and appreciate the effort from Tiffany and her team."

- By Richard Woolcott, CEO and Founder, Volcom
Since the inception of Executive Edition, I only need 1 stop
Since the inception of Executive Edition, I only need 1 stop

As a retailer in the surf industry for the past 21 years, I have had to use multiple sources to stay informed to the news within surf. Since the inception of the Executive Edition of Shop-Eat-Surf.com, I need only one stop. Thanks for providing such a valuable tool to all of us in the industry. Shop-Eat-Surf is a must read for all of our staff at Maui Nix.

- By George Karamitos, CEO, Maui Nix
Industry Insight

KNOWSHOW: Complete list of exhibit brands and mobile app available.
MOSS ADAMS: Alert! Authorities after 45,000 businesses that didn't file 2012 California corporate taxes.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Macy’s expects sales pickup in third quarter

By Tiffany Montgomery
February 27, 2008 5:59 AM

Here are some details from the Macy's earnings release and conference call yesterday.

The business now and the rest of 2008

 

  • In January and February executives have become more concerned about the economy and consumer spending, though the end of February was better than the beginning.

 

  • For 2008, Macy's expects same-store sales to be down 1 percent to up 1.5 percent.

 

  • Macy's is assuming sales will pick up mid-third quarter.

 

  • The company does not expect a large number of store closings in the near future.

 

  • The company plans to expand Bloomingdale's more aggressively in the future.

 

  • The recent consolidation of regional offices is designed to shift resources and improve execution at the store level. More local assortments and better customer service on the floor should begin to show up a bit in the fall, with a bigger impact in spring, 2009.

 

  • These changes will also allow buyers to make big merchandising decisions faster and simplify relationships with vendors.

 

  • Macy's long-term goal is to grow same-store sales 2 percent annually.

Fourth quarter 2007


Same-store sales: down 2 percent

Total sales: down 6.2 percent to $8.6 billion

Net income: up 2.3 percent to $750 million


Fiscal 2007


Same-store sales: down 1.3 percent

Total sales: down 2.4 percent to $26.3 billion

Net income: down 10.2 percent to $893 million

 


More on: Macy's, earnings, sales

Articles You Might Have Missed