×
77 403
Fashion Jobs
L'OREAL GROUP
Packaging Operator, Friday-Sunday Nights (7pm-7am)
Permanent · Franklin Township
NIKE
Global Director – Consumer Creation Communications – Kids
Permanent · Beaverton
NIKE
Demand And Supply Management Analyst/Planner
Permanent · Beaverton
NIKE
Demand And Supply Management Senior Planner
Permanent · Beaverton
JORDAN
North America Jordan Brand Marketing Manager, Men's
Permanent · Beaverton
JORDAN
na Jordan Brand Marketing Manager, Women’s
Permanent · Beaverton
NIKE
North America Logistics Manager
Permanent · Beaverton
NIKE
Marketplace Operations Senior Business Analyst
Permanent · Beaverton
NIKE
Senior Director – Consumer, Marketplace & Marketing Architecture
Permanent · Beaverton
OLD NAVY
Regional Visual Manager - Tennessee Region
Permanent · Nashville
FOOT LOCKER
sr. Manager, Product, Leed
Permanent · New York
FOOT LOCKER
sr. Manager of Operations - Distribution Center - Pennsylvania
Permanent · Camp Hill
NORDSTROM
Asset Protection - Agent - Spokane Valley Plaza Rack
Permanent · Spokane
JCPENNEY
Asset Protection Security Specialist
Permanent · Plano
JCPENNEY
Senior Advertising Art Director - Beauty, Fashion, Marketing
Permanent · Plano
SALLY BEAUTY CORPORATE
Outside Sales Representative -Cosmoprof
Permanent · Cameron Park
SALLY BEAUTY CORPORATE
Outside Sales Representative -Cosmoprof
Permanent · Springfield
SALLY BEAUTY CORPORATE
Outside Sales Representative -Cosmoprof
Permanent · Athens
SALLY BEAUTY CORPORATE
Outside Sales Representative
Permanent · Chicago
H&M
Regional Digital Media Manager - Paid Channels
Permanent · New York
H&M
Sales Market cx Operations Project Manager
Permanent · New York
H&M
cx Operations Manager, Mexico, Colombia, Ecuador
Permanent · New York
By
Reuters
Published
Nov 18, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Macy's shares surge as early moves to stock up for the holidays pay off

By
Reuters
Published
Nov 18, 2021

Macy's Inc raised its full-year sales and profit outlook on Thursday, signaling the department store chain had sidestepped supply chain snarls and was well stocked for the all-important holiday season.


Reuters



The retailer also beat market estimates for quarterly sales and said it was reviewing a potential spin-off of its e-commerce business, sending its shares soaring more than 20% to a three-year high.

After last year's lockdown-driven slump, department stores have enjoyed a sales rebound in recent months as Americans stepping out more splurge on perfumes, dresses and formal wear.

Rival Kohl's Corp also increased its full-year outlook, but was downbeat on its inventory levels due to a shortage in the key category of women's apparel.

Retailers have faced pressure this year from shipping logjams, shuttered factories in Asia and a scarcity of raw materials, leading companies like Nike Inc to warn of product shortages during the holiday season.

But Macy's moves to expedite shipments and order products earlier in the year helped its inventory levels rise by 19.4% in the third quarter and were expected to ward off a hit from the supply crisis in the holiday period.

"I have the right inventory to do what I need to do in the holiday timeframe," Macy's Chief Executive Officer Jeff Gennette told Reuters.

"We use our full muscle to ensure that we have enough inventory for our customers, which does restrict supply to some of our competitors."

Macy's expects full-year net sales of $24.12 billion to $24.28 billion, compared with $23.55 billion to $23.95 billion previously.

A 1% rise in its gross margins on pre-pandemic 2019 levels, aided by more full-price selling, also comes as a relief at a time when larger retailers like Walmart Inc and Target Corp are struggling with higher supply costs, said Empire Financial Research analyst Berna Barshay.

Kohl's, meanwhile, has increased spending to speed up shipments and prioritized new products tied to promotional events to prepare for the holiday period.

"We are well-positioned for the holiday season with fresh receipts (shipments) continuing to flow to support anticipated customer demand," Kohl's CEO Michelle Gass said.

© Thomson Reuters 2022 All rights reserved.