Macy's Pins Hopes on New Marketing
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It all comes down to the marketing for Macy’s.
The beleaguered department store showed a glimmer of hope Thursday when it reported better-than-expected second-quarter earnings. But the chain still expects a sales decline for the year as a whole. Executives called out the brand’s new marketing strategy, rolling out next month, as an expected bright spot.
“We’re excited about the new launch of our marketing strategy in September and the new loyalty program in October,” said Jeff Gennette, who took over as CEO and president earlier this year, on a conference call to discuss the results. The company wanted to “reengineer its entire marketing machine,” he said, adding that both the new strategy and the program “will help our sales trend as we move through the back half of the year.”
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