{"id":453661,"date":"2022-05-26T18:05:02","date_gmt":"2022-05-26T15:05:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/back-to-office-shopping-sprees-fueling-huge-growth-at-macys\/"},"modified":"2022-05-26T18:05:02","modified_gmt":"2022-05-26T15:05:02","slug":"back-to-office-shopping-sprees-fueling-huge-growth-at-macys","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/back-to-office-shopping-sprees-fueling-huge-growth-at-macys\/","title":{"rendered":"#Back-to-office shopping sprees fueling huge growth at Macy&#8217;s"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bf2d736a87\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bf2d736a87\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/back-to-office-shopping-sprees-fueling-huge-growth-at-macys\/#%E2%80%9CBack-to-office_shopping_sprees_fueling_huge_growth_at_Macys%E2%80%9D\" >&#8220;Back-to-office shopping sprees fueling huge growth at Macy&#8217;s&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBack-to-office_shopping_sprees_fueling_huge_growth_at_Macys%E2%80%9D\"><\/span>&#8220;Back-to-office shopping sprees fueling huge growth at Macy&#8217;s&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Macy\u2019s shares soared 19% on Thursday after the department-store giant reported better-than-expected profits, saying its customers are splurging on new work outfits as they return to the office post-pandemic.<\/p>\n<p>The largest department store in the US is selling lots of blazers, dresses, accessories and make-up as consumers update their wardrobes for their return to office life, chairman and chief executive Jeff Gennette said on an earnings call on Thursday.<\/p>\n<p>\u201cOur downtown flagships are seeing a marked improvement, not so much because of international tourism, but because of return to work and [shopping for special] events,\u201d Gennette said on the investor call. \u201cWe are having a good quarter right now.\u201d<\/p>\n<p>Macy\u2019s also defied expectations earlier this year when it delivered better than expected results for its crucial holiday period.<\/p>\n<p>Macy\u2019s also owns Bloomingdales \u2013 which Gennette said is \u201cquite hot right now.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/macys-22-Gennette.jpg?w=1024\" alt=\"Macy's CEO Jeff Gennette.\" class=\"wp-image-22419732\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/macys-22-Gennette.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/macys-22-Gennette.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/macys-22-Gennette.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Jeff Gennette says Macy\u2019s strong performance has continued into the second quarter.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>The company reported better than expected earnings for the quarter ended April 30 and raised its full-year profit guidance to between $4.53 and $4.95 a share, up from its February estimate of between $4.13 to $4.52 a share.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>It\u2019s sales grew 14% in the quarter to $5.3 billion, and comparable sales were up by 10.1%.<\/p>\n<p>\u201cWhen you look at the affluent customer, we are not seeing a slowdown there,\u201d Gennette said on the call, adding that \u201cmiddle-income customers are staying with us.\u201d<\/p>\n<p>By contrast, budget department store Kohls said its customers were pulling back on their spending due to inflation, particularly in April, and it slashed its guidance for the rest of the year.<\/p>\n<p>Macy\u2019s saw brisk sales of luggage \u2013 growing by \u201cdouble digits\u201d Gennette said \u2013 and of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arel for special occasions while demand for home goods and big ticket items has softened.<\/p>\n<p>At the same time, Macy\u2019s is bracing for supply chain challenges in the coming weeks when it gears up for back-to-school shopping and the holiday season.<\/p>\n<p>\u201cHeadwinds are coming,\u201d Gennette said. \u201cWe have 30 tankers in the Los Angeles ports down from 120, but we have to protect back-to-school and the fourth quarter.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/26\/back-to-office-shopping-sprees-fueling-huge-growth-at-macys\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Back-to-office shopping sprees fueling huge growth at Macy&#8217;s&#8221; Macy\u2019s shares soared 19% on Thursday after the department-store giant reported better-than-expected profits, saying its customers are splurging on new work outfits as they return to the office post-pandemic. The largest department store in the US is selling lots of blazers, dresses, accessories and make-up as consumers&#8230;<\/p>\n","protected":false},"author":1,"featured_media":453662,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/macys-18-feature.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129646,74694,70551,70238,73567,71470],"class_list":["post-453661","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-26-22","tag-consumer-spending","tag-inflation","tag-kohls","tag-macys","tag-tourism"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=453661"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/453662"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=453661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=453661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=453661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}