Macy's Growth Trends

As stated in their introduction to the 2016 Annual Report, Jeff Gennette, President and Chief Executive Officer and Terry J. Lundgren, Executive Chairman, stated that, “We anticipate that the challenging retail environment will continue and that consumer shopping behaviors will continue to shift, sometimes rapidly (Macy’s Co., 2016, p4). “As we look to 2017, we anticipate a sales trend that is similar to 2016” (Macy’s Co., 2016, p4). We will continue our work on reducing costs to free up funds to invest in growth initiatives that will help us gain market share, return to growth, and derive enhanced value for our shareholders over time (Macy’s Co., 2016, p4). Macy’s has defined its vision is: “To operate Macy's and Bloomingdale's as
is one of the nation’s premier retailers (Macy’s Co. 2017). With fiscal 2016 sales of $25.778 billion and approximately 140,000 employees, the company operates more than 700 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 125 specialty stores that include Bloomingdale’s The Outlet, Bluemercury and Macy’s Backstage (Macy’s Co. 2017). Macy’s, Inc. operates stores in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com (Macy’s Co. 2017). Their two competitors are Dillard’s and Lord & Taylor and they seek to bring in customers by being able to offer superior product selections. Macy’s is recognized as a retail industry leader in developing private brand merchandise that differentiates the assortments in our stores and delivers exceptional value to the customer (Macy’s Co. 2017). Merchandise for each private brand, available “Only at Macy’s,” is developed to appeal to a certain customer lifestyle and is supported with marketing programs that create a precisely defined image (Macy’s Co. 2017). Our brands have fully developed brand profiles targeted to specific consumers and are supported with national advertising and branded in-store environments (Macy’s Co.