After a Tough Q4 and 12 months Ahead
Macy’s Inc. has a long-term view to reverse declines of 2022 and 2023 into gains in 2024.
“Our five vectors for growth will reach a rate of maturation that may start to offer us growth, help us take market share and surmount macroeconomic aspects,” chairman and chief executive officer Jeff Gennette told WWD, referring to Macy’s private brands “reimagination,” off-mall and online marketplace expansion, a luxury acceleration and personalization initiatives in offerings and communications with customers.
Interviewed Thursday, just after Macy’s Inc. reported top- and bottom-line declines for the fourth-quarter and projected declines for 2023, Gennette told WWD: “The luxurious consumer is healthy. Luxury is a growing pie and we are able to get a...
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