On Strong Results, Macy's Will Intensify Digital Efforts
Macy’s, posting better-than-expected sales for its fourth quarter, raised its forecast for the year ahead, and says it will intensify its omnichannel strategy. Net sales for the quarter were $9.35 billion, while net income slipped 2% to $730 million.
Adding more than $1 billion in sales for the year, the Cincinnati-based retailer says “we continue to see significant upside opportunity ahead in those strategies that have worked so well since we reorganized the company in 2009,” adding that it will “sharpen” its localized merchandise assortments and marketing, and step up its omnichannel strategies.
The company also has high hopes for its previously announced efforts to target Millennials, which begin rolling out this year.