The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
CINCINNATI, United States — Macy's Inc. could use some extra help dealing with the holiday hordes.
After announcing plans to hire as many as 80,000 seasonal workers back in September, the department-store chain now wants to bring on 7,000 more — mostly for part-time positions. The company cited “high customer volume across our business.”
“Due to the strong traffic in our stores, we are adding associates in our stores across the country,” John Harper, Macy’s chief stores officer, said in a statement.
Macy’s — challenged by the rise of e-commerce and rapidly changing consumer preferences — is betting that a strong performance during the year-end shopping season will help spark a turnaround. Chief executive Jeff Gennette said on Black Friday that the company was off to a strong start, with chilly weather boosting outerwear sales.
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Not everything went smoothly, however. Problems processing credit-card payments temporarily disrupted some sales as the company’s system dealt with a heavy volume of transactions.
Macy’s shares have fallen 34 percent this year through Thursday’s close. November was kind to the retailer, however, with the stock rising 27 percent last month amid forecasts for higher holiday sales.
By Jonathan Roeder; editors: Nick Turner and Lisa Wolfson.
Earnings season kicks into high gear, with companies riding high and plumbing new lows reporting.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.