.Macys Inc. has hired AlixPartners to review a potential separation of its dot-com and brick-and-mortar businesses à la Saks and Saks Fifth Avenue.
He said the purpose of taking the further step of hiring AlixPartners is to “pressure test all those assumptions.…The whole focus is on how we ensure the omnichannel behavior of customers is respected at all costs.”
Macy’s three-year “Polaris” strategy, unveiled in February 2020, called for closing 125 stores, enhancing personalization and the loyalty program, expanding assortments, accelerating digital growth, opening smaller scale off-mall stores, boosting some private brands into billion-dollar businesses, and reducing costs.
“October was our best-performing month in the third quarter and November started off well,” Gennette told WWD, underscoring the retailer’s momentum in the wake of its strong showing for the third quarter ended Oct. 30. Asked if Black Friday will see less of a sales spike this year because of the extended holiday shopping season, Gennette answered, “I don’t think so. Black Friday is always kind of an event in itself. It’s a pilgrimage. Customers after spending Thanksgiving Day with their families are looking to get out of the house. America is going to get out there.” And Macy’s, he said, “shows up really well on Black Friday because of the Macy’s Thanksgiving Day parade.
In 2020 amid the pandemic, “Our vendors and merchants were reeling, but we’ve since had lots of time to sit with vendors to work through values, prices, new categories and exclusive content,” Gennette said.
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