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Delivery expense accounted for 4.5% of net sales that’s 10 basis points higher than last year,
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2022 Q2
4 Sep 22
AURs within pandemic categories declined 6% due to higher promotional and markdown actions
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2022 Q2
4 Sep 22
higher prices and lower promotions drove the results within these categories
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2022 Q2
4 Sep 22
Macy’s brand AURs with occasion-based categories saw growth of 12.5% over the prior year
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2022 Q2
4 Sep 22
Partially offsetting the additional markdowns in the second quarter were higher ticket prices and favorable category mix shifts that help drive an owned AUR up approximately 5% for Macy’s, Inc.
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2022 Q2
4 Sep 22
Promotional markdowns intensified in July as a result of the increasing price competition across the industry
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2022 Q2
4 Sep 22
pandemic categories within Macy’s saw a year-over-year decline in merchandise margin rate that was approximately 6 percentage points higher than that of occasion-based categories.
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2022 Q2
4 Sep 22
Merchandise margin decreased 160 basis points driven by a year-over-year increase in clearance markdowns within Macy’s. These markdowns were largely related to our pandemic categories, seasonal goods and private brand merchandise.
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2022 Q2
4 Sep 22
Our lower outlook accounts for the pressures we see in the back half of the quarter and the excess inventory that remains in the industry. The impact of these factors is reflected in the markdowns and promotions we anticipate needing to liquidate aged inventory and further reduce the merchandise categories stock to sales and balances by the end of the year.
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2022 Q2
4 Sep 22
We are targeting appropriate inventory levels by the end of the year and plan to be aggressive in taking the necessary markdowns to drive faster sell-throughs in our aged inventory in seasonal goods, private brand merchandise and pandemic related categories.
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2022 Q2
4 Sep 22
we have not seen trade down at Bloomingdales’ either and their business continues to be quite robust
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2022 Q2
4 Sep 22
we’re seeing our most affluent customers continue to spend at very strong levels
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2022 Q2
4 Sep 22
from the point of view of where you have an abundance of stock in certain categories you’re going to need to liquidate those with lower prices.
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2022 Q2
4 Sep 22
we have not seen a trade down as of yet.
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2022 Q2
4 Sep 22
Additional markdowns will be taken in order to end the year with inventory at the appropriate levels.
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2022 Q2
4 Sep 22
we have seen declining retail traffic in areas of weakening apparel sales over the quarter as the consumer faces higher costs on essential goods, particularly grocery
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2022 Q2
4 Sep 22
The consumer is not as healthy as they were in prior quarters
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2022 Q2
4 Sep 22
our platinum customers and star rewards were highly engaged. And occasional shoppers were less engaged.
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2022 Q2
4 Sep 22
Post Father’s Day into July, Macy’s brand year-over-year sales trended nearly 5 percentage points lower than the proceeding weeks of the quarter.
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2022 Q2
4 Sep 22
decline in customer traffic and spending
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2022 Q2
4 Sep 22