Macy’s, the nation’s biggest department store chain and an industry bellwether, cut its losses in the third quarter and now has a brighter outlook on the holiday season.
Executives, in a surprisingly upbeat mood despite the nation’s rising unemployment and economic uncertainties, said the new view stems from a recent uptick in mall traffic; strong sales of private labels, exclusive merchandise and online; better business at Bloomingdale’s; lower inventories overall, and the My Macy’s localization program. However, the retailer’s shares fell Wednesday after its fourth-quarter profit projection was below Wall Street’s expectations.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"