Macy’s Beauty Biz Was On The Nice List This Holiday Season

Macy’s, Inc. today announced that comparable sales on an owned basis increased 1.0% in the months of November and December 2017 combined compared to the same period last year—and there was good news coming from the beauty aisle.

Macy’s, Inc. saw improved holiday sales across Macy’s, Macy’s Backstage, Bloomingdale’s, Bloomingdale’s The Outlet and Bluemercury, with exclusive gifts showing strong performance. Specifically, the retailer said beauty was “also a highlight and showed a marked improvement in trend, with particular strength in fragrance, prestige skincare and cosmetic gifting.”

“Macy’s had a solid holiday shopping season, and we are pleased that our November/December performance resulted in positive comp sales for the period, setting us up for a positive fourth quarter. Consumers were ready to spend this season, and we delivered with solid execution, fresher inventory, a curated gift assortment and a focus on customer experience. We saw improved sales trends in our stores and continued to see double-digit growth on our digital platforms. Customers also responded well to our new loyalty program,” said Jeff Gennette, Macy’s, Inc. chief executive officer. “We intend to close the fourth quarter in a good position and head into 2018 with momentum.”

Gennette said that looking ahead to 2018, Macy’s is “focused on continuous improvement and will take the necessary steps to move faster, execute more effectively and allocate resources to invest in growth.”

The company continues to make efforts to “ensure the optimal mix of brick and mortar stores and digital footprint,” according to Gennette, and to that end, will shutter more stores and embark on other measures, including cutting staff.

The retailer said it will close 11 stores in early 2018; four of the store closures were previously disclosed.
 
Macy’s, Inc. fourth quarter sales and earnings will be released on Feb. 27, 2018.