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Macy’s May See Changes
Macy’s may be flailing, but the department store icon can’t be accused of taking its struggles lying down. As sales were falling 7.4% in the first quarter of 2016 (numbers that represented the fifth straight quarter of declining sales, and capped off a year in which Macy’s stock prices were nearly halved at 47%), Macy’s continues moving forward on plans to roll out its new off-price Backstage concept – both as a series of new stand-alone stores and as in-store locations integrated inside a number of existing Macy’s stores. -
Rough seas for Pier 1
Home décor retailer Pier 1 Imports swung to a loss in its first quarter amid heavy promotions caused by weak sales. The chain reported a loss of $6 million for the quarter ended May 28, compared to net income of $6.9 million in the year-ago period. Revenue fell 4.2% to $418.4 million in the quarter, also less than expected. Same-store sales were down 2.5%.

