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Macy’s Makes Some Aggressive Moves in June to Revive Sales
(Continued from Prior Part)
Rent a tux at Macy’s
On June 10, Macy’s (M) appear an agreement with Men’s Wearhouse (MW), a leading specialty banker of men’s apparel, to open in-store cape rental shops. In abatement 2015, Macy’s will activate with 17 in-store cape rental shops in the New Jersey, San Francisco, and Houston markets. The arch administration abundance affairs to extend the in-store cape rental shops to 300 food by abatement 2016.
Macy’s will additionally accomplice with Men’s Wearhouse to acquaint a agenda cape rental service on its website.
Focusing on men’s apparel
Macy’s acceding with Men’s Wearhouse will accredit it to adeptness added macho consumers. In budgetary 2014 catastrophe January 31, 2015, men’s and children’s commodity accounted for 23% of Macy’s net sales.
In 2014, Macy’s launched the Ryan Seacrest Distinction collection, which includes tailored suits, shirts, ties, and belt links. The accumulating was advised by Ryan Seacrest, a accepted TV and radio personality, in affiliation with Randa Accessories, Peerless Clothing, and PVH (PVH).
Expanding appropriate break capability
Macy’s in-store cape shops will increase its adeptness to accommodated customer needs accompanying to appropriate occasions like weddings. Macy’s has been convalescent its bells and allowance anthology business and has additionally added its assurance and bells rings selection, bells affair apparel and dresses, accessories, jewelry, and added occasion-related categories.
Men’s Wearhouse will accept an absolute ten-year appropriate to supply tuxedos for rental at Macy’s. At the aforementioned time, Macy’s will abide selling tuxedos from its own collection.
Other administration food including Nordstrom (JWN), Kohl’s (KSS), and JCPenney (JCP) accept a attendance in the allowance and bells anthology market.
Department food accomplish up over 6.4% of the SPDR S&P Retail ETF (XRT).
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