Macy’s Inc. reported sales of $6.3 billion for Q2 2014, a 3.3% increase over the same period in 2013. For the first half of 2014, sales for Macy’s, Inc. reached $12.5 billion, up 0.7% year over year.
During a quarterly earnings report, Macy’s, Inc. Chairman and CEO Terry Lundgren noted that the entire organization has “confident optimism” for the rest of the year following a successful quarter.
Advancements in the retailer’s M.O.M. strategies — My Macy’s localization, Omnichannel integration and Magic Selling customer engagement — contributed to sales growth for the Macy’s and Bloomingdale’s brands, Lundgren noted. Shopping activity also increased as a result of more stable weather patterns.
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For the second half of 2014, Macy’s executives will uphold a positive outlook on overall business strategies, merchandise assortments and marketing plans, according to Lundgren. “We remain focused on outperforming our competitors through innovation in omnichannel, which has added new dimensions in how consumers can shop us and how our company can satisfy customer demand.”
Specifically, Macy’s will focus on refining and optimizing a new buy online pickup in-store offering, which has been rolled out to all full-line Macy’s stores across the U.S.
Despite a slight bump in sales for Q2 2014, Macy’s was unable to make up its sales shortfall from Q1. As a result, the retailer expects comparable sales for the entire year to increase by approximately 2%, below the initial guidance of 3%.
