Is Macy’s the dominant online force in the US department store industry?
In our first look at the North American market, we analyse the online performance of department stores in the USA with a particular focus on a US icon Macy’s, which announced overall sales down 7.4 per cent in the quarter ended 30 April and whose shares fell more than 8 per cent in pre-market trading following the news and ended the results day 15 per cent lower. This negative result announcement was not an isolated occurrence, with Nordstrom, JCPenney and Kohl’s all reporting below expected performances.
Macy’s is the United States’ largest department store chain. Its Thanksgiving Day parades are world-famous and it has been a dominant force on the US retail scene. Macy’s online store is now available to shoppers in the UK as part of a response to increasing competitive pressures in their home market. Recently it has faced considerable criticism for its slow response to changing customer behaviour and preferences, so following the week that its major competitors also reveal their results, we looked at all four of the mid-range department stores to see who is winning the battle online.