With a 4.3% decline in total revenue and a 3.9% dip in comparable sales, the latest set of numbers from Macy’s suggests that there are more nightmares than miracles on 34th Street.
The department store sector took another blow as Macy’s Inc. reported a big drop in earnings and its first same-store decline after six straight quarters of comp sales growth.
With Black Friday a week away, more than half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made.
Another excellent set of results from Target underlines the fact there is growth available in the consumer economy and that those retailers which inspire and engage customers can grab a slice of it.