What: Changes in corporate management and hiring as well as cost-cutting have supported the evolving digital strategies aimed at regaining relevance and capturing new customers.

Why it is important: The Macy’s Group has been reworking the private brand portfolio, adding additional Bloomies and Market by Macy’s off-mall speciality stores to become less dependent on traditional big box stores.

In the Q2 of 2022 for Macy’s Group brick-and-mortar represented 70% of sales and 30% for digital sales. Expectations for the holiday season are positive according to Macy’s CEO due to a better inventory profile and having 55% of the assortment being new content.

Macy’s CEO shares details on retail transformation