Tag Archives: Macy’s

Judge: JCP Interfered with Macy’s-MSLO Agreement

JCPenney

NEW YORK-The New York State Supreme Court Justice hearing the lawsuit by Macy’s against J.C. Penney and Martha Stewart Living Omnimedia (MSLO) has ruled that J.C. Penney “tortiously interfered” with the agreement between Macy’s and MSLO. In the 63-page ruling, Justice Oing said Macy’s had proven that it had a valid contract with MSLO forMore »

Last updated: June 17, 2014

Macy’s Q1 Net Up, Sales Down

Macy’s Inc.

CINCINNATI-In spite of a drop in sales, Macy’s managed to raise its first-quarter net income by 3.2 percent, to $224 million. An improvement in gross margin and reductions in expenses keyed the bottom-line pickup in the quarter, which ended on May 3. Gross margin increased by 10 basis points to 38.9 percent. Selling, general andMore »

Last updated: May 14, 2014

Macy’s Debuts “American Icons” Campaign

Macy's American Icons

NEW YORK-Beginning on May 14, Macy’s will reprise its American Icons campaign nationwide, which pays homage to the country through specially curated merchandise, launch parties, local country fairs, minor-league baseball events, grilling competitions, a patriotic sweepstakes and a fundraising program to benefit Got Your 6 and veterans causes. The merchandise includes home products and apparelMore »

Last updated: May 12, 2014

Macy’s Tabs Gennette as President

Jeff Gennette

CINCINNATI-Jeff Gennette, who has been Macy’s chief merchandising officer for the past five years, has been promoted to president of the department store retailer, effective immediately. Gennette reports to Terry Lundgren, who remains chairman and CEO, and who previously held the title of president. In his new role, he retains his day-to-day responsibility over Macy’sMore »

Last updated: April 1, 2014

Macy’s Expands GoodWeave Collection

Goodweave Bashian Rug

NEW YORK–Macy’s has expanded its program with GoodWeave, and now offers consumers eight collections, with a total of 30 styles, in its Macy’s Fine Rug Galleries stores nationwide and online at macys.com. GoodWeave is the international nonprofit organization that works to end child labor in the carpet industry; these rugs have been certified to beMore »

Last updated: April 1, 2014

Mitigating Risks in Reductions-In-Force

Brian Rauch

By Brian S. Rauch Reductions-in-force have, unfortunately, become a growing trend in the retail sector. As detailed in last month’s issue of HFN, both Macy’s and J.C. Penney recently announced the elimination of 2,000 or more jobs. Even though they are typically done to improve profitability, reductions-in-force can be costly in terms of declines inMore »

Last updated: March 17, 2014

Macy’s Net Blooms for Q4, Fiscal Year

Macy’s Inc.

CINCINNATI-Macy’s posted increases of 11.1 percent and 11.3 percent in fourth-quarter and fiscal-year net income, respectively, resulting in its fifth straight year of double-digit growth in earnings per share. The bottom-line totals were $811 million for the quarter and $1.5 billion for the fiscal year, which ended on Feb. 1. Net sales in the quarterMore »

Last updated: February 25, 2014

MSLO Q4 Net Balloons; Company Slashes Loss for Fiscal Year

MSLO

NEW YORK-Martha Stewart Living Omnimedia (MSLO) reported a 528.5 percent jump in fourth-quarter net income to $7 million, reducing its net loss for the fiscal year to $1.8 million from $56.1 million in the previous fiscal year. Dan Dienst, MSLO’s CEO, attributed the quarterly bottom-line success to “some aggressive and important steps … to alignMore »

Last updated: February 25, 2014