Luxury fashion brands are hoping ‘The Devil Wears Prada 2’ will attract Gen Z and revive a personal luxury market facing a two-year downturn. However, prospects are unlikely.
Tag Archives: Macy’s
Macy’s Turnaround Plan Is Delivering Results Despite Layoffs And Store Closures
Macy’s is laying off 1,000 fulfillment workers and will close 14 stores this year, down from 66 closed last year. Existing stores that have undergone transformation are delivering positive results.
Macy’s Appoints Former Hermès CEO To The Board. Will It Matter?
Macy’s Inc. has appointed Robert Chavez, former Hermes Americas CEO, to the board. He faces challenges influencing strategy of the company that needs changes.
Bloomie’s Is Proving A Retailer Can Shrink To Prosperity
Macy’s Inc, the corporate parent of luxury department store Bloomingdale’s, has been trying to shrink itself to prosperity over the past five years without much success. Back in 2018, the company generated $25 billion in revenues and $1 billion in net income out of 867 stores – 649 Macy’s, 55 Bloomingdale’s and 163 specialty Bluemercury […]
Macy’s Plans for Bloomingdale’s: Reclaim Luxury Leadership
In Macy’s Inc. recent earnings call, the most surprising news was the opportunity it sees in luxury. It surprised CNBC’s Lauren Thomas too, who immediately got on the phone with CEO Jeff Gennette to get the scoop. He said the collapse of competing luxury department stores, notably Barney’s, Neiman Marcus, and Lord & Taylor, combined […]
