As U.S. malls grapple with shifting consumer preferences and the digital revolution, they are undergoing a transformation. In an interview with PYMNTS, Rachel Williamson, chief strategic retail adviser, Running Great Stores, highlights the trend of experiential retail, where malls are focusing on activity-based businesses and...
Macy’s officials are confident in their “A Bold New Chapter” strategy, highlighted by the company’s First 50 locations. During its second-quarter earnings call Wednesday (Aug. 21), Macy’s Chairman and CEO Tony Spring noted the retailer showcased these flagship stores as a beacon of success amid...
While you were watching track and field, basketball, fencing and swimming we were keeping our usual close eye on the “faster, higher, stronger” world of payments, banking and the connected economy. And now that your eyes have had a bit of a workout with that...
Earlier this year, Macy’s launched a restructuring initiative called “A Bold New Chapter,” aimed at reinvigorating the company and driving growth. The strategy focuses on strengthening the core Macy’s brand through store enhancements, expanded product offerings and cost reductions. A major theme of Macy’s overarching...
November 07, 2024
Consumer expectations around shopping are changing, with higher demand for personalized, artificial intelligence (AI)-driven experiences that offer convenience, customization and efficiency. A PYMNTS Intelligence report, “Getting to Know You: How AI Is Shaping the Future of Shopping,” explores how retailers are responding by integrating AI into every stage of the customer journey, from personalized recommendations […]
August 21, 2024
Macy’s officials are confident in their “A Bold New Chapter” strategy, highlighted by the company’s First 50 locations. During its second-quarter earnings call Wednesday (Aug. 21), Macy’s Chairman and CEO...
July 15, 2024
For Macy’s Senior Vice President, Customer Journey, Bennett Fox-Glassman, personalization boils down to two things. “Customers don’t come up and ask for personalization,” Fox-Glassman said at The Lead Summit in...
May 27, 2024
As we approach the middle of the year, here are five of the major ways that the retail landscape has changed in 2024 so far. Amazon Pivots on ‘Just Walk...
July 15, 2024
The Macy’s board of directors has unanimously decided to end acquisition talks with Arkhouse Management and Brigade Capital Management. The decision follows more than seven months of engagement that included a due diligence process, Macy’s said in a Monday (July 15) press release. “At this time, after careful review, we have concluded that Arkhouse and Brigade’s proposal lacks certainty […]
July 04, 2024
Are the world’s wealthy falling out of love with luxury goods? An opinion piece published Thursday (July 4) in the Financial Times argues that the rich — and even many people in...
May 20, 2024
Macy’s, Kohl’s, Nordstrom and other department stores are reportedly facing a pressing challenge in attracting younger customers. The rise of social media, specialty retailers, big-box stores and online platforms has led younger consumers...
March 20, 2024
The U.S. retail industry may be on the brink of a significant transformation as department store chains Nordstrom and Macy’s consider a shift toward private-equity or hedge-fund ownership. These potential...
