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Macy’s to Build Major New Fulfillment Center

In eCommerce, Industry News, What's New by Accessories StaffLeave a Comment

Cincinnati, OH—Macy’s, Inc. today announced it will build a major new direct-to-consumer fulfillment center near Owasso in Tulsa County, Oklahoma, to support continued sales growth driven by Macy’s omnichannel strategy. Construction of the 1.3 million-square-foot, $170 million facility is expected to begin in spring 2014, with operations starting in April …

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Macy’s Inc. Q3 Profit, Sales Better-Than-Expected

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

New York—Macy’s Inc. rebounded today after posting a “disappointing” second quarter earnings in August. Today, the department store company boasted a 31% increase in its third quarter profit, beating expectations. “Our business improved during the quarter, with particular strength in October, so we are entering the fourth quarter with confidence,” …

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Bloomingdale’s Gould to Step Down, Tony Spring to Succeed as CEO

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People

New York—Michael Gould, the veteran retail executive who has guided Bloomingdale’s for the past 22 years, will soon leave. Replacing him as chairman/ceo will be Tony Spring, currently Bloomingdale’s president/chief operating officer, Macy’s Inc. said today. “Leading this great brand and organization to a new level of success over two …

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Macy’s, Inc. Offers $400 Million in Notes to Raise Capital

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Cincinnati—In a move that would increase capital and reduce debt, Macy’s, Inc. announced Tuesday a $400 million public offering of 10-year senior unsecured notes due 2023 by its wholly-owned subsidiary, Macy’s Retail Holdings, Inc. Macy’s Retail Holdings will use the net proceeds for “general corporate purposes, which may include working …

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Macy’s Inc. Lowers Full Year Outlook on Disappointing Q2 Results

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

New York—Macy’s Inc. today reported “disappointing” second quarter earnings with weaker-than-expected profits. The department store also lowered its full year outlook due to the prospect of softer sales, a move that pushed its shares down in trading. For the quarter ended August 3, the parent to Macy’s and Bloomingdale’s stores …