Macy's posted a strong second quarter that featured an earnings surge and a same-store sales boost of 4.9%. The success comes as retailer turned in a lackluster July sales performance that many say doesn't bode well for the holiday season.
Management largely credits the My Macy's program, which caters merchandise toward local markets instead of offering the same goods at stores through its 800-unit network. It says this strategy greatly reduced the need to discount and boosted profitability.
Compared to its peers, it seems like this strategy is working. This informative Reuters graphic shows how well Macy's same-store sales performed so far this year compared to J. C. Penney and Kohl's.
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