Macy's (M) Outlines Strategy To Fit In Dynamic Retail Space
Zacks Investment Research | Feb 05, 2020 07:31AM ET
Macy's, Inc. (NYSE:M) has been in a spot of bother for quite some time, thanks to soft mall traffic due to increasing online shopping and stiff competition. Industry experts even pointed out that the company has been scrambling to keep pace with the fast-changing fashion trends and also scored lower in offering customers a better bargain option. But these may be things of past, as Macy's has outlined plans under its three-year Polaris Strategy to adapt better to the new retail ecosystem.
From revamping stores to bringing in loyalty program, from embracing new technologies to investments in merchandising strategies, and from improving websites and mobile apps to supply chain modernization, Macy’s is looking at every nook and cranny to be more agile. Management is taking every step to increase sales, profitability and cash flows. This also includes trimming of 2,000 positions or approximately 9% of its corporate and support function headcount.
Notably, the company’s sustained focus on price optimization, merchandise planning and private label offering should facilitate in meeting customer-oriented demand. As part of its strategy, the company is committed toward building four $1 billion power private brands. Moreover, to better engage with customers, the company plans to launch the next phase of Macy’s Star Rewards Loyalty program later this month.
Macy's, Inc. Price, Consensus and EPS Surprise
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