Showing posts with label Macy's. Show all posts
Showing posts with label Macy's. Show all posts

Wednesday, November 27, 2019

As giant balloons prepare to fly on Thanksgiving, a strict watch on weather


NEW YORK — Astronaut Snoopy might not be cleared for take off. The usually buoyant SpongeBob SquarePants may wind up deflated and depressed. Olaf, the garrulous snowman from “Frozen,” could find himself melting into a heaping puddle on the pavement.

That’s because though New York City plays Thanksgiving host to the annual Macy’s parade, it has a strict and specific set of balloon-flight regulations that have been in place since 1997, when a windswept inflatable Cat in the Hat caused destruction that left one woman in a coma for nearly a month.

So as omnipresent as the mammoth character balloons are, so, too, are weather forecasters, police officers and others trying to guess which way the wind will blow.

Macy’s has a licensed meteorologist — armed with a laptop and an open line to the National Weather Service — on hand every year to observe weather conditions, monitor gusts and help make decisions about the floating characters in the procession.

The Police Department assigns trained officers to balloons and has seven wind-monitoring devices, called anemometers, to measure gusts along the route and guide the parade accordingly.

“We are always attuned to weather conditions for Parade Day,” Orlando Veras, a Macy’s spokesman, said. “We monitor the weather on a daily basis, but at this time, it is too early to make any determinations.”

This year, with high winds in the forecast, parade enthusiasts are particularly anxious that the most famous balloons in America might get grounded.

Maneuvering a massive helium-filled balloon down the 2-mile parade route can be a challenge even in the best of conditions. The biggest of the balloons measures between 50 and 60 feet tall and can be just as long.

The giant balloons also weigh hundreds of pounds and require dozens of trained handlers to guide them through streets lined with gawking spectators and hulking buildings.

To help avoid crashes and other catastrophes each year, every floating behemoth is assigned a supervisor, according to Chief Rodney Harrison, the Police Department’s chief of patrol. He added that each balloon had its own “predetermined flight risk” based on its size and weight.

As the inflated characters hover their way downtown, the supervisors are fed information from the anemometers. They then instruct handlers to reel balloons lower or higher based on changing wind conditions, Harrison said.

According to city regulations, the giant balloons cannot fly at all if there are sustained winds above 23 mph or if gusts exceed 34 mph. Though guidelines for balloon handling had long been in place, the rules became more severe after the accident in 1997.

On that Thanksgiving, balloon handlers were grappling with winds that reached speeds in excess of 40 mph, when a 6-story Cat in the Hat balloon was pushed by the gusts into a lamppost.

One part of the lamppost broke off and fell onto parade spectators, injuring four people, including a 33-year-old woman who suffered a serious head injury and spent more than three weeks in a coma.

While balloon accidents had caused some chaos in the past — even as early as 1931, when a Felix the Cat balloon that was released from the parade later drifted into telephone wires and caught fire — the severity of the 1997 incident caused then-Mayor Rudy Giuliani to launch a city investigation that led to the current rules.

The regulations have not prevented further collisions. In 2005, a giant M&M balloon smacked into a light pole in Times Square and pulled off a fixture that crashed to the ground and injured two spectators.

As of Tuesday afternoon, the National Weather Service was predicting that Thanksgiving Day would bring winds of up to 25 mph, with gusts nearing 40 mph throughout the New York region.

Matthew Wunsch, a meteorologist at the Weather Service, warned that gusts in the densely built parts of Manhattan, where tall buildings create a wind tunnel, could rise even higher.

“It’s going to be windy regardless,” Wunsch said. “But the buildings make it a lot more variable.”

If the giant balloons are grounded, Veras said, it would be only the second time in the history of the Macy’s parade that they were forbidden from taking flight. The first was in 1971, when a cold, wet and windy Thanksgiving kept the balloons on the ground. (There were also no balloons between 1942 and 1944, when the parade was suspended because rubber and helium were needed for World War II.)

The character balloons have been a staple of the Macy’s Thanksgiving Day Parade since 1927. This year’s, Macy’s is hoping to feature new versions of two parade fixtures, Snoopy and SpongeBob, and the return of Smokey Bear for the first time since 1993.

Even if winds are high, Macy’s still plans to bring out 40 smaller inflatable figures. The themed floats will still sail down the street and Broadway performers, musicians and marching bands from across the country will still serenade the assembled crowds.

The final decision on whether the parade’s 16 giant balloons get pulled from the lineup this year won’t be made until Thursday morning, officials said.

“It’s going to be a game-day decision,” Harrison said.

2019 The New York Times Company

source: news.abs-cbn.com 

Thursday, August 15, 2019

Macy's shares sink as discounts to clear inventory hurt, tourism drops


Macy's Inc cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least 2 years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18 percent.

The largest US department store operator, whose flagship building in Manhattan is a major tourist attraction, blamed a bigger-than-expected decline in tourist spending for the shortfall along with weak demand for its own-brand women's sportswear and for warm weather apparel.

"We had a slow start to the quarter and finished below our expectations," Chief Executive Jeff Gennette said in a statement.

Tourist arrivals to the United States have taken a hit in the past year, hurt by a stronger dollar and escalating trade tensions between Washington and Beijing, denting the number of Chinese visitors to the country.

The number of Chinese citizens arriving in the United States dipped 2.8 percent in the first 6 months of the year, according to the National Travel and Tourism Office.

Like its peers, the Cincinnati, Ohio-based retailer, which has closed more than 100 stores since 2015 and cut thousands of jobs as mall traffic plummeted, faltered in the past few years as it struggled to adjust to a fiercely competitive retail landscape where shoppers buy more goods online at places like Amazon.com Inc.

"While they are controlling what they can control, the headwinds from both macro and micro factors continue to grow, creating a challenging backdrop for CEO Jeff Gennette to manage through," said Gordon Haskett analyst Chuck Grom. "The good news is that they have a plan."

The 160-year-old company is pumping money into projects such as remodeling its stores and building up its off-price and online businesses. Macy's also announced a partnership with fashion resale marketplace thredUP, aimed at helping the chain "reach a new customer and keep them coming back to shop...," the company said.

Retailers like Macy's have been burdened by a long-drawn trade war between the United States and China, which US President Donald Trump escalated earlier this month by threatening to impose 10 percent tariffs on $300 billion worth of Chinese goods from Sept. 1. On Tuesday, the Trump administration delayed the 10 percent tariffs on some Chinese goods until Dec. 15.

Macy's executives reassured investors on a post-earnings call Wednesday that the company is in "active discussions" with vendors and suppliers to mitigate tariffs and minimize customer impact in 2019 as much as possible.

Analysts said the temporary tariff reprieve would likely not benefit retailers greatly.

"Only a small percentage of soft-good tariffs are actually getting delayed until December 15th and none have been removed yet," UBS analyst Jay Sole wrote in a note, adding that, of the approximately 789 apparel and footwear categories on the original latest list of tariffs, only 17 percent have had tariffs delayed.

Gennette said he believed 10 percent tariffs to be manageable but that it would be harder to maintain pricing if 25 percent tariffs are imposed on all remaining imports from China, adding "there's no customer appetite for price increases."

Macy's now expects 2019 adjusted profit to be between $2.85 per share to $3.05 per share, down from a previous forecast of $3.05 to $3.25.

The company's margins in the quarter fell to 38.8 percent from 40.4 percent a year earlier, hit hard by steep markdowns.

For the second quarter ended Aug. 3, net income attributable to Macy's shareholders slumped 48 percent to $86 million, or 28 cents per share.

Analysts on average had expected the company to earn 45 cents per share, according to IBES data from Refinitiv.

Net sales fell marginally to $5.55 billion, largely in line with estimates, while sales at its established stores rose 0.3 percent.

Still, Macy's, whose digital business posted its fortieth consecutive quarter of double-digit growth, maintained its 2019 sales expectations, and said it entered the fall season with the "right inventory."

Macy's shares, which have declined about 35 percent this year, opened at a near 10-year low. Shares were down about 15 percent at $16.50 in afternoon trading Wednesday.

The company, which is the first of the department stores to report results, also dragged down peers' shares. Kohl's, Nordstrom and J.C. Penney were down between 8 percent and 11 percent.

(Reporting by Aishwarya Venugopal in Bengaluru and Melissa Fares in New York; Editing by Nick Zieminski and Diane Craft) 

source: news.abs-cbn.com

Friday, November 23, 2018

Black Friday deals lure US shoppers, biggest sales gains online


NEW YORK - Shoppers across the United States snapped up deep discounts on toys, clothing, and electronics both online and at stores on Black Friday, giving retailers a strong start to their make-or-break holiday season.

A healthy economy and rising wages gave people the confidence to splash out on retailers' annual raft of bargains.

“The prices today are very good,” said Jose Manuel Cruz Hernandez, 59, who hit the Del Amo Fashion Center in Torrance, California, with his sister Paulina Cruz, 66, who comes every year from Mexico City to shop.

The pair spent $120 on princess dolls and other toys at the Walt Disney Co store, where items were 20 percent off. They spent a similar amount at Gap Inc, where items were discounted by about 55 percent.

Cruz Hernandez, a foreman at an aerospace firm, said he was comfortable with the US economy and his own finances and plans to spend another $1,000 on holiday gifts - about the same as last year.

A similar story played out online, where shoppers spent $643 million by 10 a.m. ET, up 28 percent from a year ago, according to Adobe Analytics, which tracks transactions at most of the top US online retailers. Smartphone sales in particular contributed to gains.

Foot traffic looked healthy at stores offering discounts, although detailed numbers on brick-and-mortar holiday sales will not be available for several days.

"Overall, Black Friday doesn't have the sense of urgency as in the past and feels more like a busy regular weekend day in many of the stores," said Dana Telsey at Telsey Advisory Group.

"Many of the promotions were available for the past couple of weeks," Telsey said. "We haven't noticed desperation from any retailer."

Shares of Macy's Inc, Kohl's Corp, and Target Corp all closed down on Friday and weighed on the broader S&P 500 retailing index, which closed down 0.56 percent.

Investors are concerned retail sales growth may have peaked in the second quarter and business will slow down as comparisons get tougher, said Brian Yarbrough, retail analyst with Edward Jones.

Victoria's Secret owner L Brands, Walmart Inc and American Eagle Outfitters rose. J.C. Penney Co Inc ended flat and Amazon.com Inc closed slightly lower.

The overall stock market finished a shortened session with losses.

STRONG ONLINE SALES

Early numbers showed overall retail sales, both in stores and online, were in line with expectations, according to Mastercard Inc's SpendingPulse retail report. The firm expects overall Black Friday sales to top $23 billion this year, up from $21 billion last year.

Mastercard combines sales activity in its payments network with estimates of cash and other payment forms. It said cold weather in the eastern United States and wet weather in the west may be pushing more consumers online.

Online spending is on track to hit $6.4 billion on Friday, Adobe said. Online sales on Thanksgiving Day were up 28 percent at $3.7 billion.

The National Retail Federation forecast US holiday retail sales in Nov. and Dec. will increase between 4.3 and 4.8 percent over 2017 for a total of $717.45 billion to $720.89 billion. That compares with an average annual increase of 3.9 percent over the past 5 years.

About 38 percent of American consumers plan to shop on Black Friday, a Reuters/Ipsos poll showed last week.

Very cold weather in the US Northeast may have kept some shoppers at home, although industry analysts also reported added demand for coats and other warm clothing. An Athleta clothing store in Tysons, Virginia, provided hot chocolate with marshmallows to women in line for the dressing room.

DEAL FRENZY

Shoppers picked up big-ticket items such as TVs, Apple Inc iPads and Watches at Target, while phones, toys, gaming consoles and cookware were top sellers at Walmart Inc.

Many shoppers sought out air fryers, which do not use oil to deep fry food and Instant Pots. Kohl's Chief Executive Michelle Gass told CNBC the company was selling 60 Instant Pots per minute online on Thanksgiving Day.

While most retailers have not changed their deals and discounts year-over-year, many have moved their start dates earlier and offered more teasers, according to deal site RetailMeNot.

The deepest discounts in apparel and accessories were offered by Michael Kors, which ran a 60 percent discount sale; Gap, which offered 50 percent off site-wide; and Nordstrom, which gave away up to 60 percent on merchandise.

Other deals included:

An H&M store in Manhattan offered 30 percent off everything in-store and online.

Macy's in Herald Square, Manhattan, sold a Coach designer wallet, originally $225, for $53. Coach bags there, originally $259, were half off.

Midtown Comics was taking 25 percent off everything at its 3 Manhattan locations until noon.

An Eddie Bauer in Chicago offered 50 percent off all items.

At a Chicago-area Pandora, which sells popular charm bracelets that can cost up to $1,000, jewelry was 35 percent off before 10 a.m. and 25 percent off for the remainder of the day.

J Crew clothing was 50 percent off. Its site experienced some technical difficulties.

Walmart was selling a Google Home mini for $99.

REPLACING A TOY STORE

Many retailers, reacting to the bankruptcy of the Toys 'R' Us chain, are catering to parents.

Target said in October it planned to dedicate nearly a quarter of a million square feet of new space to its toy business across 500 of its stores.

“Toys 'R' Us had better quality for toys,” said Ashley Drew, 29, shopping for her 5-year-old daughter at a Los Angeles-area Walmart, next door to the empty shell of a Toys 'R' Us store.

Department store JC Penney, known for its mid-priced apparel, has also made a push into toys.

Carolyn Pertette from Wilkinsburg, Pennsylvania, shopped in the early morning at the Waterfront Mall in Pittsburgh.

"I'm concerned about where I'm going to get toys," she said.

source: news.abs-cbn.com

Black Friday sale


A large crowd of people shop during a Black Friday sales event at Macy's flagship store on 34th Street in New York City, U.S., Thursday. The much-awaited nationwide sale happens every Thanksgiving Day in the U.S. 

source: news.abs-cbn.com

Monday, November 23, 2015

Retailers give shoppers new reasons to use mobile phones in stores


NEW YORK - At some Macy's outlets this holiday season, shoppers who download the retailer’s app will be able to use their smart phones to guide them through the store to products they’re seeking.

At JCPenney, customers will be able to take a snapshot of, for example, boots worn by a person passing by and quickly find out if the store has similar ones in stock. And Staples is testing an app that will allow sales clerks to let customers know how the store’s prices match up against Amazon and other rivals.

Hoping to claw back market share from online rivals - and tired of watching customers use their phones to find better deals than those offered in stores - brick and mortar retailers are trying to give shoppers different reasons to use their phones while doing holiday shopping.

The new apps will allow customers to easily order out-of-stock items for home delivery, to check store prices and even to summon a clerk.

But the retailers’ efforts will face two significant challenges in the looming holiday season: getting customers to embrace the new technology, which is still sometimes glitchy and dependent on in-store systems, and getting them to trust that stores can match the Web’s prices and convenience.

Retail purchases by mobile phone have increased by 34 percent in the last year, according to IBM, which estimates that more than 40 percent of the online traffic and about 20 percent of sales this Thanksgiving weekend will come from smart phones.

A Reuters/Ipsos poll of more than 3,000 respondents this month found that about half of those surveyed said they would use their mobile phones while shopping in stores this holiday season, for such things as making price comparisons, taking photos or researching products. Last year, only about 42% of respondents said they would use their phones while shopping.

Companies that don’t make mobile work are playing a "very dangerous" game, said Jay Henderson, head of IBM’s cloud-based marketing platform. "Retailers that can’t deliver a more personalized experience on mobile devices will start losing customers to businesses that can," he said.

In addition to its pilot program guiding customers to products within stores, and a photo program similar to JCPenney's, Macy's has taken inspiration from dating app Tinder, recommending products to customers online who swipe one way to like an item and the other to reject it.

JCPenney's app can be used to scan barcodes to pull up product information or order out of stock items, and it saves digital coupons - two increasingly common offerings in retailer apps.

“We look at using phones in stores as an enhancement to shopping,” said Kate Coultas, a representative with JCPenney which is heavily focused on mobile this year.

SERVICE WITH A TAP

Stores are trying to make customer service easier, too.

Best Buy's app now lets shoppers call, text or email a representative while in stores.

Target Corp is testing an in-store "digital service ambassador" in 25 Los Angeles stores to help customers use Target apps.

Ulta Beauty is testing an app that will allow clerks to access customer information and point them to products they might like.

Faisal Masud, executive vice president of global e-commerce at Staples, said his company knows that it must satisfy the desires of its customers to find low prices. The company, like many others, will match online and in-store prices of competitors, including Amazon, Best Buy and Office Depot.

Customers “have a phone that is basically a super computer, and they will find it somewhere else” for less if they can, he said.

Companies offering web apps and in-store technologies will also have to grapple with keeping the new apps and systems working and up to date. That means ensuring that WiFi in stores works, and that terminals function.

Recent visits to a Staples store in New York City found that a kiosk set up to allow people to order online wasn’t functioning, and at a JCPenney store in the city, the Wifi didn’t work. Both companies said the problems encountered were unusual and that they have backup systems in place.

"Poorly executed plans can be worse than no mobile strategy at all," said Perry Kramer, vice president at Boston Retail Partners. "The dangers are losing those customers for the rest of the year or for a long time."

Read more at Reuters.

source: www.abs-cbnnews.com

Saturday, November 29, 2014

US protesters force closure of mall near Ferguson


US protesters forced a crowded St Louis mall to close for around two hours on Friday, demanding a boycott to post-Thanksgiving shopping and justice for an unarmed black teenager killed by police.

Scores of demonstrators, including young children, shouted "No justice, no peace," and "Stop shopping and join the movement" at the St Louis Galleria Mall.

Around 100 people lay on the floor for four and a half minutes to symbolize the more than four hours that 18-year-old Michael Brown lay in the road after being shot dead by a white police officer in the St Louis suburb of Ferguson.

In New York, police made "several" arrests at a protest in front of Macy's flagship store in Herald Square, a spokesman said, without explaining why the demonstrators had been detained.

About 200 people gathered in support of the boycott of "Black Friday", which comes the day after America's Thanksgiving holiday and sees stores offering steep discounts, leading to often-frenzied consumer spending.

In the San Francisco Bay area, protestors severely disrupted the BART mass transit system for more than two hours by blocking off a train station in Oakland, officials said.

The protestors chained themselves together at the West Oakland station, forcing trains to be stopped into and out of San Francisco, briefly stranding crowds including many heading to malls seeking Black Friday bargains.

The protests came four days after a Missouri grand jury decided not to indict the officer who killed Brown, sparking arson and looting in Ferguson.

At the St Louis mall, shoppers and store staff looked bemused, while others filmed or photographed the protest, or else clapped and shouted their support.

When police officers told AFP they were clearing the building, the protesters had already left.

The management office confirmed that the shopping center reopened at 3:15 pm, around two hours after stores were told police were closing the building.

Although most shops reopened, others kept their doors locked and shutters down even after the mall was back in business.

It was not immediately clear how much business had been lost.

Shop staff said police had ordered the closure for public safety.

"It ain't my decision," said Luke, a shoe store manager who didn't want to give his last name.

"The police thought it was in the best interest of our customers and our product to close down," he added.

Protesters claimed success.

"It is now a movement and it is spreading across the country and around the world. Black Friday is the next step," said journalist and activist Kymone Freeman from Washington.

"Hopefully we'll see more of this. I think Black Friday protests will continue throughout the Christmas season," he added.

source: www.abs-cbnnews.com