Macy’s will see the biggest jump in holiday sales among U.S. department stores

Wall Street expects Macy’s Inc to report the best sales among U.S. department stores on Tuesday when it reports the results of Tuesday’s holiday quarter, taking advantage of its online business investment and ability to maintain its shelves in sufficient numbers.

Analysts said the company was able to maintain a stable supply at peak purchases as it used multiple ports for early delivery of clothing and accessories from foreign suppliers.

This is in contrast to their expectations of rival Nordstrom Inc, as the struggle in its Rack division to lower prices, which accounts for a third of its sales, has forced Wall Street to be wary of its short-term prospects.

“Nordstrom was the original digital strategy store, but Macy’s caught up and really did more. Macy’s has taken a more data-driven and disciplined approach to managing all aspects of the business, ”said retail analyst Jane Haley.

Analysts also expect Kohl’s Inc, which has seen takeover bets from activist investors, to benefit from smaller discounts and links to Sephora’s beauty chain, but they question the strength of its online business.


In the last quarter, Macy’s added 4.4 million new customers, 28 percent more than before the pandemic, and about a third of them returned to the brand a few months later. Analysts at JP Morgan said Macy’s is the main beneficiary of market share, with JC Penney and Belk giving way to land.

Macy’s quarterly online sales have grown for almost two years, thanks to a loyalty program that has attracted millions of young customers. He plans to build on that momentum by launching a marketplace where third-party vendors could sell brands he doesn’t wear and help expand his customer base.


** Analysts polled by Refinitiv expect Macy’s fourth-quarter revenue to jump 25 percent and profits to more than double.

** They expect Nordstrom’s sales to fall sharply from pre-pandemic levels, although that means a 24 percent increase over the year before when it faced delivery delays.

** Kohl’s profits are expected to jump 11 percent from a year earlier, but are likely to be roughly equal to pre-pandemic levels.

The mood of Wall Street

** Macy’s current average price target is expected to grow 35 percent before closing on Thursday, while Nordstrom and Kohl’s are about 13 percent higher than the last closing price.

Provincial paramilitaries; Edited by Aruna Koyura

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Macy’s raises the annual forecast when people return to the store

Macy’s Inc on Tuesday raised its forecast for annual sales and profits by betting on deferred demand when coronavirus-vaccinated shoppers return to stores to update their wardrobe and spend on luxuries.

https://www.businessoffashion.com/news/retail/macys-set-to-see-biggest-holiday-sales-jump-among-us-department-stores/ Macy’s will see the biggest jump in holiday sales among U.S. department stores

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