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Macy's doubles profit by chasing luxury customers, ditching cheap goods

Bloomingdale's posts best second-quarter sales in brand history as premiumization strategy gains momentum.

newest coverage 1d agosummary written 1d ago7 pieces NewswiresMastodon

What to know

  • Macy's nearly doubled profit by shifting from budget goods to premium products and wealthy customers.
  • Bloomingdale's achieved record second-quarter sales, validating the premiumization strategy.
  • The retail chain is abandoning cheap materials in favor of luxury positioning.

“Bloomingdale's posted its best second-quarter sales in brand history as the premiumization push gains momentum.”

Advance Local Express Desk · NJ.com ↗

Macy's RetailerBloomingdale's Luxury subsidiary of Macy's

How it unfolded 1 development · click the chart to see its coverage articlesposts

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  1. 1

    Macy's reports nearly doubled profit from luxury shift

    Macy's announces significant profit increase driven by a strategic pivot toward premium products and affluent customers. Bloomingdale's brand achieves its best second-quarter sales in company history.

    1. 3 outlets first by The Oregonian, 1d ago · also PennLive, MassLive · read ↗