What a difference a yr makes. And that’s actually true for Macy’s Inc. and the vacation season.
“A yr ago everybody was talking concerning the supply chain, spooking customers into early shopping. Should you didn’t buy it immediately, there could be nothing left for Christmas. This yr, with all of the press about inventory gluts, there aren't any concerns about running out of inventory before the vacation,” Jeff Gennette, Macy’s Inc. chairman and chief executive officer, told WWD in an interview Tuesday.
He spoke right after the retailer reported that its net income dove by almost 55 percent to $108 million, or $0.39 a diluted share, from $239 million, or $0.76 a diluted share, within the year-ago quarter. This compares to diluted...
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