CINCINNATI–Home was a mixed bag at Macy’s during the second quarter, Karen Hoguet, chief financial officer, said during a conference call today.
Housewares and mattresses were strong, while textiles was weak and furniture was “ a little more difficult,” Hoguet said.
What’s more, the exclusive Martha Stewart home collection “continues to perform very well.”
For the second quarter ended Aug. 2, Macy’s net income was $73 million, down from $74 million in the year-ago period.
Second-quarter earnings include costs related to the consolidation of three Macy’s divisions and non-cash impairment charges of $50 million.
Sales fell 3.0 percent, to $5.71 billion. Same-store sales slipped 2.1 percent.
While comp-store sales declines “are nothing to celebrate,” Macy’s is upbeat on its performance, particularly when compared to its retail peers, Hoguet said.
Bloomingdale’s, Bloomingdales.com and Macys.com saw “very strong growth in the quarter.”
Hoguet offered an update on the retailer’s My Macy’s program, which it’s testing in about 20 percent of the chain’s markets. My Macy’s is designed to localize store assortments and improve sales.
While it’s still too early for changes to “move the [sales] needle,” My Macy’s has already resulted in more customized assortments per market, Hoguet said.
In textiles, for example, regional planning managers have provided pointed data on color and fashion tastes in particular markets, she said.
Marking another push to improve sales, the retailer hired dunnhumby USA, a consumer insights firm, to analyze its customer sales data, develop customer segmentation models and help Macy’s apply those findings.