Macy would not comment, but Ad Age
reports that the retailer has cut its magazine spend for the first quarter of 2009. The news comes as the department store plans a big marketing campaign to
celebrate its 150th birthday. Stores like Macy's have been harder-hit than discounters, such as Target, in the current economic crisis. Macy's magazine budget was more than $20 million in the first
half of 2008 and $27 million in the first half of 2007, according to TNS Media Intelligence.