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.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.