Macy's is getting into the clothing subscription and resale businesses
Macy's said it started a pilot this month with resale marketplace ThredUp at 40 Macy's stores across the country.
Macy's said Wednesday it's dipping its toes into both the clothing subscription and apparel resale businesses.
The department store operator said it started a pilot this month with resale marketplace ThredUp at 40 Macy's stores across the country.
, and it cut its forecast for the year. Shares fell more than 17% Wednesday morning, hitting a 52-week low. The company's results were hurt as it was forced to markdown merchandise during the spring to clear out inventories.
Gennette said: "Learning from Bloomingdale's will inform the development of a similar rental service at Macy's in the near future."Read more: CNBC
Cool Lol I thought the economy was booming.
Nike Kicks Off Subscription Business With Kids ShoesThe company is hoping to tap into the growing rental industry, while creating lifelong brand loyalists.
Film News Roundup: Djimon Hounsou Replaces Brian Tyree Henry in ‘Quiet Place’ SequelIn today’s film news roundup, Djimon Hounsou fills in for Brian Tyree Henry in the “Quiet Place” sequel, “Toni Morrison: The Pieces I Am” gets a wide release and a Lou… DUDE IS MAKING BANK!!!!! Loud place
Big earnings week for tech and retail: here's what to watchThe 'Halftime Report' traders discuss big tech and retail names set to report this week, including Cisco, Nvidia, Walmart and Macy's.
Macy's is about to report earnings. Here's what you need to knowMacy's shares are down more than 50% from a year ago. The company has been hit along with other department store operators. they still hate trump
Macy's shares tank 13% as deep discounting leads to big earnings miss, cut forecastMacy's shares are down more than 50% from a year ago. The company has been hit along with other department store operators. Maybe if they cut prices retail prices they would see an increase in total revenue thus increasing share prices Deep discounting can lead to lower profits. “Intro to Business 101”
Macy's plummets to its lowest level in 9 years after slashing its profit forecastThe company's CEO cited rising inventory levels and a markdown for clearing spring stock as the biggest hits to Macy's bottom line.