Macy Profit Slips
By: Leon Castles
on Wednesday, February 27, 2013
Cincinnati based Macy’s Inc has made an announcement that their fourth quarter earnings have gone down by 2% mainly because of the high expenses. The company said that they will be focusing on how they can bring down the overall expenditure of the company. The company also said that they are really focused on the year 2013 and they believe that since the economy has improved they will have better sales and that will boost their business in the future. The company also said that although the numbers are not good the shares of the company are riding high in the stock market as the shares rise 2.1% after the announcement was made.
Macy said that they are working on better strategies that can allow them to focus on better trends and come up with better options that are liked and approved by customers. The company also said that they are also keeping a close watch on the internet trends that can provide them with lot of information and options. Terry Lundgren CEO of Macy said that the company is seeing an upward trend in terms of same store sales and that is helping them to get the right options. Some of the market experts also claim that Macy is doing the right jobs in terms of retailing growth.