Macy's wants Bloomingdale's, Bluemercury to stay put
Published On Jan 15, 2025, 1:01 PM
Macy's CEO has reaffirmed the company's commitment to keeping Bloomingdale's and Bluemercury as integral parts of its business strategy, even amidst pressure from activist investors to consider spinning them off. The CEO highlighted the importance of synergy among their brands and expressed confidence in their potential for growth. Recently, Bluemercury has reported sustained growth in store sales, and Bloomingdale's has returned to positive same-store sales. This comes as Macy's integrates new strategies through a turnaround plan aimed at restoring profitability and adapting to retail challenges.
Stock Forecasts
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Positive
The commitment to retaining Bloomingdale's and Bluemercury indicates Macy's is focusing on its luxury segment as a growth area. Positive sales trends in both brands suggest a favorable outlook, especially as they leverage brand synergies and streamline operations.
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