Stores Added to “Macy’s First 50”

Macy’s Inc. (New York) said it is adding 75 stores to its flagship brand’s “Macy’s First 50” revitalization effort. The company disclosed that plan in an investor presentation on its fiscal year 2024 results/2025 outlook.

For the year, the retailer reported:

• Its Macy’s department store unit saw its overall net sales drop 4.2% from a year earlier, though its “First 50” locations saw a comparable sales increase of 1.6%.
• Bloomingdale’s net sales were up 1.0%.
• Bluemercury’s net sales were up 2.8%.

“As we close out the first year of our ‘Bold New Chapter strategy,’ investments in the customer experience enabled us to achieve our highest comparable sales of the year, our best performance in 11 quarters,” said Macy’s Inc. Chairman and CEO Tony Spring. “At Macy’s, our ‘First 50 locations delivered four quarters of increased sales, while our luxury nameplates, Bloomingdale’s and Bluemercury, achieved accelerated annual sales growth. As we enter the second year of our strategy, we plan to scale initiatives that are resonating with our customers to drive long-term profitable growth and further unlock shareholder value.”

For 2025, the retailer said that strategy involved focusing “on go-forward growth through a smaller, more productive store fleet, including expanding the ‘First 50’ [upgrade] initiatives to 75 more stores, or 36% of the flag’s go-forward base.”