News

The first set of results under Macy's new CEO, Jeff Gennette, are not good. Indeed, they are decidedly gloomy and represent a significant deterioration over recent quarters. That this worsening comes off the back of feeble prior year numbers - when comparables fell by 6.1% and net income by 40.4% - only adds to the sense that Macy's is on a slippery slope.  

Macy’s reported disappointing earnings for its first quarter, as its sale continued to slide.    Macy's posted a first quarter profit of $71 million, or 23 cents a share, down from $116 million, or 37 cents a share, in the year-ago period. Excluding some costs, Macy's adjusted per-share profit fell to 24 cents from 40 cents, below analysts' expectations for 35 cents.   

Kohl’s Corp. posted mixed results for its first quarter, as sales continued to decline but profit jumped amid expense control and more careful inventory management.    The retailer reported net income of $66 million, or 39 cents per share, in the quarter ended April 29, up from $17 million, or nine cents per share, in the year-ago quarter. The gain, much better than expected, came as the company cut general expenses by $33 million.   

When shoppers talk about brands, they usually do it offline.   That’s according to a study by Engagement Labs that measured the performance of 60 brands with respect to social media and word of mouth conversations. Amazon came out on top in the retail and apparel category, followed by Nike and Nordstrom.   

Struggling Marsh Supermarkets is looking for a buyer, but it doesn’t have all that much time.    The 86-year-old grocery store chain on Thursday filed for Chapter 11 bankruptcy protection, and said it is seeking a buyer for all or part of its business.  The company’s 44 locations will continue normal operations throughout the process.  But the stores will be shuttered if the company does not find a buyer within 60 days.  

Canadian outwear brand Canada Goose is continuing its expansion, both offline and online.      The company will open two flagship stores this fall, in London and Chicago. It also plans to expand its e-commerce channel to seven new markets including Germany, Sweden, Netherlands, Ireland, Belgium, Luxembourg and Austria.   

Samsonite has selected a cloud-based solution to enhance its omnichan-nel operations and improve order visibility, flexibility, profitability and speed.   The luggage company will deploy the Aptos Enterprise Order Management solution. The tool will serve as a central commerce hub and manage all orders throughout their lifecycle, from initiation to fulfillment and delivery.   

Shoppers at Saks Fifth Avenue’s Manhattan flagship can now take a fitness class taught by ex-cons in addition to shopping for the latest fashions. They can even learn how to meditate.   The luxury department store has transformed its second floor into a health and fitness hub dubbed The Wellery. The 16,000-plus-sq.-ft. space is comprised of 20 individual spaces offering everything from fitness classes and exercise equipment to athleisure apparel and specialized beauty treatments. It will be open through October 2017.

Canada’s Aritzia Inc. is expanding its Chicago footprint as it targets both brick-and-mortar and online expansion.    The fashion retailer will open a flagship on Rush Street in Chicago this fall. The Vancouver, British Columbia-based company already operates a store in the Windy City, at Water Tower Place.    

Dick’s Sporting Goods has made several changes in its executive team, including naming a former Target executive as its chief merchant.   The company said that André Hawaux is retiring as executive VP, COO. He will remain with Dick’s through the second quarter of 2017. Dick’s did not name a replacement for Hawaux.