Macy's, one of the premier omnichannel retailer in America, has posted a 37 per cent sales increase to $5.4 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the corresponding period of previous fiscal. The net income for the three-month period surged to $239 million compared to the loss of $91 million in the Q3 of 2020.

 

Macy's, one of the premier omnichannel retailer in America, has posted a 37 per cent sales increase to $5.4 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the corresponding period of previous fiscal. The net income for the three-month period surged to $239 million compared to the loss of $91 million in the Q3 of 2020.#

“Our company delivered another strong quarter and exceeded our expectations on both top and bottom lines. The results were driven by the effective execution of the Polaris strategy and an improved economic environment,” Jeff Gennette, chairman and chief executive officer of Macy’s, said in a press release.

 

Macy's, one of the premier omnichannel retailer in America, has posted a 37 per cent sales increase to $5.4 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the corresponding period of previous fiscal. The net income for the three-month period surged to $239 million compared to the loss of $91 million in the Q3 of 2020.#

“In the quarter, the Macy’s brand added 4.4 million new customers. Consumers continue to spend, and we successfully offered a wide range of expanding merchandise assortment to meet their growing demand,” Gennette added. “Looking ahead to the fourth quarter, we remain a special place for holiday shopping, and our robust omnichannel ecosystem is showing resilience in the face of labour and supply chain challenges and enables us to meet customer shopping needs with speed and convenience.”

 

Macy's, one of the premier omnichannel retailer in America, has posted a 37 per cent sales increase to $5.4 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the corresponding period of previous fiscal. The net income for the three-month period surged to $239 million compared to the loss of $91 million in the Q3 of 2020.#

The US-based retail chain Macy’s digital sales during Q3 FY21 improved 19 per cent over the last year, while jumped 49 per cent against Q3 of 2019. Operating income accelerated to $523 million ($127 million).

 

Macy's, one of the premier omnichannel retailer in America, has posted a 37 per cent sales increase to $5.4 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the corresponding period of previous fiscal. The net income for the three-month period surged to $239 million compared to the loss of $91 million in the Q3 of 2020.#

With strong sales of luxury handbags, fine jewellery, home, mens shoes and contemporary apparel, Bloomingdale’s comparable sales on an owned basis increased by 43.4 per cent, according to the company. On the other hand, Bluemercury comparable sales too shot up by 39.5 per cent.

 

Macy's, one of the premier omnichannel retailer in America, has posted a 37 per cent sales increase to $5.4 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the corresponding period of previous fiscal. The net income for the three-month period surged to $239 million compared to the loss of $91 million in the Q3 of 2020.#

In its outlook, Macy’s said that it has revised the full-year guidance and expects its FY21 sales to be in between $24.12 billion - $24.28 billion (previous guidance: $23.55 billion - $23.95 billion).

 

Macy's, one of the premier omnichannel retailer in America, has posted a 37 per cent sales increase to $5.4 billion in the third quarter (Q3) of FY21 ended on October 30, 2021, over the corresponding period of previous fiscal. The net income for the three-month period surged to $239 million compared to the loss of $91 million in the Q3 of 2020.#

“We are encouraged by the momentum of our business and its strong financial health and continue to invest in positioning our company for long-term sustainable and profitable growth,” Gennette said. “We are announcing plans to launch a curated digital marketplace platform that will further fuel customer acquisition and sales growth across all of our channels.”