Essay on Macys Business Plan - 4464 Words

Situational Analysis Reaching its 150th birthday in 2008, Macy’s Inc. has emerged as an American household icon over the past few decades. Macy’s sells a range of merchandise, including men’s, women’s, and children’s apparel, accessories, cosmetics, home furnishings, and other consumer goods. Since its merger with Federated Department Stores in 1994 and May Department stores in 1995, Macy’s has been pursuing ways to be more creative and distinctive in meeting customer needs and in delivering exceptional values. In order to maintain its share of the department store market, Macy’s has been aggressively investing in a distinguished shopping experience with unique merchandise, exclusive fashion brands, online sites, and breakthrough†¦show more content†¦In a fast-paced retail environment, Macy’s can offer the latest needs that everyone has to own, while simultaneously providing goods that very few can Immense changes in consumer spending will remain subdued for the next few quarters, and that will lead to retailers’ earnings estimates declining for the next several months. Several retail chains will be forced out of business in 2009 by their own debt structure and the global credit crunch. There are also many retail stores that will close storefronts in 2009 because a recessed economy demands a recessed retail industry. There were 200,000 store closings that have occurred in the first quarter of 2009. The post-holiday season fallout was substantial for retailing, but not completely devastating. Retailers have become forced to tighten their budgets and cut down on expenses until the economy improves. In 2008, Macy’s enlisted Dunnhumby, the consumer insight company, to analyze its sales data with a view to increasing turnover and customer loyalty, develop customer segmentation models to accelerate future sales growth at the department store chain. The tie-up could enh ance the existing loyalty scheme at Macys. Targeted Segments Demographic. Macy’s initial target market consisted of middle to upper class working women and men aged 25 to 54. This segment is consumption oriented,Show MoreRelatedMacy s International Retail Strategy Essay844 Words   |  4 PagesMacy’s International Retail Strategy There are many opportunities available for companies willing to venture into new, international markets. Reaching more customers and therefore, turning a larger profit are two fairly obvious reasons for companies to consider global expansion. However, the potential benefits do no end there. Expanding to international markets can hold less obvious, yet extremely beneficial appeals such as access to new and different talent pools, grander output requires greatRead MoreMacys Company Analysis1622 Words   |  7 PagesMacy’s IS Strategic Planning Brief History Macy’s was founded by Rowland Hussey Macy in 1858 in New York City. Macys stores target the middle-to-higher-priced market, offering womens, mens, and childrens clothing and accessories, housewares, home furnishings, and furniture. After its merger with Federated Department Stores, the company became the largest department store company, operating more than 850 department stores across the US. The company primarily operates in the US. Macys is headquarteredRead MoreHuman Resource Management : Macy s1392 Words   |  6 PagesMacy’s is a nationwide department store offering housewares, apparel, jewelry, and beauty products. 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Macy’s entered 2005 with about 240Read MoreThe Importance of HRM in an Organization1798 Words   |  7 Pagessubsequent plan that follows, Macys Inc. will be in better position in which to effectively do so. Company Description To begin, Macys is privileged to have a sustainable competitive advantage in regards to distribution and brand awareness. Macys Inc. is one of the nations largest and well known department store chains. Started over 150 years ago, Macys has continually been at the cutting edge of fashion trends and consumer demand. Currently, in the midst of a global recession, Macys has generatedRead MoreOperations Management : Operation Management Essay1480 Words   |  6 Pages INTRODUCTION Operations management is the organizing and controlling of the fundamental business activity of providing goods and services to customers (Encarta, 2005). Depending on the type of industry will determine the type of operations management will be focussing on providing a service or products. 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The department store has been meeting the needs of Americans since 1858 by offering a commodity of mid-range to upscale priced merchandise including: cosmetics, apparel, home dà ©cor, appliances and much more. The store is also famous for sponsoring the Macy’s Thanksgiving Day Parade in New Y ork City since 1924. Macy’s continues to grow due to its success in its affordable qualityRead MoreManagement Functions of Macys1582 Words   |  6 PagesMacys Inc. is one of the nations largest and well known department store chains. Started over 150 years ago, Macys has continually generated excellent returns for its shareholders and employees. Currently, in the midst of a global recession, Macys has generated huge profits with same store sales increasing 5.3% year to date. In 2012 same store sales increased 4.6% in the month of February alone (Macys Inc., 2012). In fact, throughout the duration of 2012, Macys is projecting even larger profitsRead MoreAnalysis Of Macy s Inc.1665 Words   |  7 PagesExamine Expectation At Macy’s Inc. they have a corporate vision and a corporate philosophy. Their corporate vision is â€Å"Macy’s, Inc. is a premier national omni-channel retailer with iconic brands that serve customers through outstanding stores and dynamic online sites. Both Macy’s and Bloomingdale’s are known worldwide, and each has its own unique identity and customer focus.† Their corporate philosophy is as follows, â€Å"Macy’s, Inc. clearly recognizes that the customer is paramount and that all actions