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Macy’s plans to close 100 stores, boost online investment
Macy’s plans to close about 100 stores next year and boost its online investments, the nation’s largest department store chain said Thursday, as it tries to become more nimble in an increasingly fierce market. The closures represent close to 14 percent of its stores under the Macy’s brand. The company, which operates Bloomingdale’s stores as […]
Macy’s Bethesda store testing artificial intelligence shopping tool
Macy’s Bethesda store is one of 10 company locations that is testing a mobile tool using artificial intelligence that lets shoppers get answers customized to the store they’re in — like where a particular brand is located or what’s in stock — that they would normally ask a sales associate face-to-face. The tool, which the […]
Should states follow D.C.’s bail-reform effort?
D.C.'s bail-reform effort heads news summary including a homeless man in Beverly Hills, sexual-assault victims in Wisconsin and alleged Macy's shoplifters.
Sales up, Men’s Wearhouse makes deal with Macy’s
Despite a continued drag from its Jos. A. Bank stores, Men's Wearhouse announced a growth in first-quarter sales as well as a deal with Macy's to operate tuxedo rental shops.
As ruling nears, Penney cuts back on Martha Stewart partnership
NEW YORK — Ahead of a ruling in its fight with Macy’s over Martha Stewart products, J.C. Penney Co. is scaling back its partnership with the media and merchandising company. The department store chain will no longer sell certain home and bath products designed by Martha Stewart Living Omnimedia Inc., the two companies said Monday. […]
Macy’s sales slip, says shoppers wary of spending
NEW YORK — Macy’s Inc. reported a disappointing profit for its second quarter and cut its outlook for the year on Wednesday. The department store chain blamed shoppers’ reluctance to spend for a rare slip in sales. The second-quarter weakness raises worries about consumer spending, an important part of the economy, and how other merchants […]
Retailers report modest gains for May
NEW YORK — In the latest sign that Americans are feeling better about the overall economy, stores across the country had a pickup in sales in May. An improving job picture, better housing market and stock market rallies have all led to consumer confidence reaching five-year highs. That has left Americans a bit more likely […]
Retailers report modest gains for April
NEW YORK — Americans spent briskly during the early spring months in the latest sign that they’re encouraged by the economic recovery. Falling gas prices, a rallying stock market and gains in the job market all fueled Americans’ shopping habits even as cold weather tempered their desire to buy spring fashions. Revenue at stores open […]
Spending slows, but retailers optimistic about holidays
Americans may have slowed their spending in September after splurging during the start of the busy back-to-school shopping season in the month before. But most importantly, they were still spending. September sales rose 3.9 percent — a slowdown from the 6-percent rise in August — as 22 retailers including Macy’s and Costco reported mixed results, […]
Higher retail spending lifts hopes for economy
WASHINGTON — Americans increased their retail spending in July by the most in five months, opening their wallets after a frugal spring and offering hope that the slumping economy may rebound in the second half of the year. Retail spending rose in every major category, from electronics and sporting goods to furniture, building supplies and […]
Clearances, heat lured shoppers to spend in July
NEW YORK — Shoppers showed some spending muscle in July, once summer clearance sales and the hottest July in 50 years got them in the mood. Solid sales reports from retailers Thursday took some of the sting out of weak June manufacturing data. And improving trends in unemployment benefit applications provide hope for slightly better […]
JC Penney tweaks pricing strategy again
NEW YORK — J.C. Penney is changing its pricing — again. Just six months after the mid-priced department store chain got rid of the hundreds of sales it offered each year in favor of everyday lower pricing, it is reversing course. Penney on Feb. 1 began using a three-tier pricing approach that called for consistently […]
