Macy’s increased holiday promos but limited discounts to protect margins
March 2, 2023
Macy’s reported better-than-expected revenues for the holiday quarter as it ramped up promotions to turn merchandise and reduce inventory. The department store retailer discounted merchandise but remained mindful of its profit margins. “[We] took strategic markdowns and intentionally did not chase unprofitable sales,” said CEO Jeff Gennette.
Recent News
NHTSA Investigates Tesla Autopilot Again After Recent Software Update
Tesla Autopilot is once again the subject of an NHTSA investigation.
Home Depot Holds Halfway to Halloween Sale: Skelly’s Back
It’s halfway to spooky season, and Home Depot is celebrating.
Kaiser Discloses Health Insurance Data Breach
Health insurance company Kaiser is notifying millions of its current and former members about a data breach. The breach occurred when Kaiser shared patients’ information with third-party advertisers like Google, Microsoft, and X (formerly Twitter).
Satirical Site The Onion Acquired by Global Tetrahedron
The satirical news website, The Onion, has been sold by G/O Media to a group of digital media veterans.