Macys consolidating operations
The new merchandising structure will be supported by enhanced customer insights and data analytics, which is expanding to include inventory replenishment and pricing capabilities, Macy's said.
As for its incoming president, the retailer is banking on Lawton’s technology and retail background (prior to joining e Bay North America he spent 10 years at Home Depot) to help spearhead that effort.
Employees from different office communicate and collaborate to be informed, make decisions, solve problems or manage projects.
Macy’s marketing department now has regular meeting once a month.
Macy's Backstage, the department store chain's off-price nameplate, is being rolled out inside more of Macy's existing big boxes.
The retailer is also looking to an updated marketing strategy and revamped loyalty program to improve business this fall. “Our strongest concerns remain on physical store traffic, unpredictable tourism volatility, [market] share wars versus other department stores and intense competition versus Amazon and off-price share leaders,” said Cowen & Company retail analyst Oliver Chen, in a research note.
Hal Lawton, from e Bay, will serve as Macy's president starting Sept. Investors appeared to welcome the news, with Macy's shares moving higher, recently up about 3 percent in early trading Tuesday. "All told, while the move won't impact sales or profitability overnight, we think the addition could mark the beginning of a new chapter for Macy's," Gordon Haskett analyst Chuck Grom wrote in a note to clients.
"Lawton will bring a fresh perspective — one that is arguably long overdue." Gennette on Tuesday said that Lawton understands the "intersection of retail and technology."Meantime, Gennette looks to double down on some of Macy's existing initiatives that have boded well for the company thus far.
An information silo is the condition that exists when data are isolated in separated information systems.
For Macy’s, communication between customers and sales department, sales department and other departments and sales groups from different stores are really important.