Macy’s Inc turns corner as Q4 2024 hailed as ‘best performance in 11 quarters’
Macy’s Inc has reported its results for the fourth quarter and full fiscal year 2024. The US department store operator saw comparable sales dip 1.1 percent on an owned basis in the final three months of the year but achieved its best owned, licensed and marketplace comparable sales since 1Q 2022, with growth of 0.2 percent. The post Macy’s Inc turns corner as Q4 2024 hailed as ‘best performance in 11 quarters’ appeared first on Global Cosmetics News.
THE WHAT? Macy’s Inc has reported its results for the fourth quarter and full fiscal year 2024. The US department store operator saw comparable sales dip 1.1 percent on an owned basis in the final three months of the year but achieved its best owned, licensed and marketplace comparable sales since 1Q 2022, with growth of 0.2 percent.
THE DETAILS Macy’s First 50 locations delivered fourth quarter comparable sales growth of 0.8 percent while Bloomingdales realized its highest fourth quarter owned, licensed and marketplace comparable sales growth to date, up 6.2 percent and Bluemercury reported comparable sales growth for the 16th consecutive quarter, with a 6.2 percent rise.
THE WHY? Tony Spring, chairman and chief executive officer of Macy’s, Inc. “As we close out the first year of the Bold New Chapter strategy, investments in the customer experience enabled us to achieve our highest comparable sales of the year, our best performance in 11 quarters.
“At Macy’s, our First 50 locations delivered four quarters of increased sales, while our luxury nameplates, Bloomingdale’s and Bluemercury, achieved accelerated annual sales growth. As we enter the second year of our strategy, we plan to scale initiatives that are resonating with our customers to drive long-term profitable growth and further unlock shareholder value.”
The post Macy’s Inc turns corner as Q4 2024 hailed as ‘best performance in 11 quarters’ appeared first on Global Cosmetics News.
