Hopefully the environment will allow that growth. Management clearly indicated that the first half will be weaker and the second half of the year stronger. With that in mind, management expects 2023 comparable sales to be $23.7 to $24.2 billion and adjusted earnings per share to range between $3.67 and $4.11. Management has indicated that 2023 will be a 53-week year. Sales and earnings were above expectations. POSTSCRIPT: Macy’s tight control paid off. In the fourth quarter, we benefitted from our disciplined inventory approach and compelling gift-giving strategy, which allowed us to provide fresh fashion and style of great values for all our customers”. Despite an increasingly volatile macroeconomic climate, through the ongoing execution of our Polaris strategy, we remained agile, pivoted to meet customer demand and elevated our approach to inventory management. Jeff Gennette, Chairman and CEO of Macy’s Inc., summed up the fourth quarter saying, ”We successfully navigated 2022 from a position of financial and operational strength. Jeff Gennette praised the stores, their neatness, and the positive experiences they deliver to customers. This year here will be 5 more Market by Macy’s units and one new Bloomie’s location. There are now 8 Market by Macy’s and two Bloomie’s.
They average 30,000 to 40,000 square feet in size. Buyers are usually optimists they see great opportunities for growth – sometimes too often – so these tight controls provide a good counter balance.Īnother anticipated growth factor will be the mini-stores Macy’s and Bloomingdale’s have introduced. Tight inventory control also assures that merchandise on the selling floor is fresh, crisp, and attractive. That inventory strategy will certainly benefit the company’s performance in the coming months, since low inventory levels give the buying teams an opportunity to buy more if a best seller appears or add to classifications that are in demand. Inventory productivity was driven by disciplined inventory management that combined strategic use of data analysis, alignment of the merchandise team, and the successful integration and modernization of Macy’s supply chain. The company reduced inventory by about 4% versus last year.
Checklist Please ensure you include all the information and documentation in the list below with the application.
If you require assistance or have any questions regarding this application, please contact us: or 1800 190 660. In the face of inflationary pressures on merchandise and consumer apathy for shopping because of many lay-offs, Macy’s took action to tighten inventory that was laudable. Please note the Terms & Conditions outlined in Appendix 2. Throughout this time, Macy’s had tight controls in place to manage a very difficult sales period. Approximately 662,000 active consumers shopped the Bluemercury stores, a +12% increase compared to last year. However, Bloomingdale’s had 4.1 million customers that shopped the Bloomingdale’s brand, a +5% increase compared to the prior year. The company reported that 42.7 million active customers shopped the Macy’s brand that is a -4% decrease compared to the prior year.
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