Macy』s Swings to Q1 Profit

Epoch Times - Department store chain Macy』s Inc. announced on Wednesday that it achieved a better-than-expected $23 million in fiscal first-quarter profits.

The Cincinnati-based retailer said that the positive results were due to its recent 「My Macy』s」 initiative to tailor goods to local markets. Top-line sales were $5.6 billion, a 7 percent increase from the same quarter ended May 1 last year.

「We are much better able to anticipate and react to customer needs in each location through My Macy』s localization,」 Chief Executive Terry Lundgren said in a statement.