) unveiled a new program, "Buy 1 & We'll Give 1," under which
this department store retailer will donate a coat on the purchase
of every coat in the men's, women's or children's section of its
stores or online platform. The charitable program will run from
Oct 29 to Nov 2, 2013, when Macy's plans to donate up to 30,000
coats while also offering a 25% discount.
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This holiday season Macy's is leaving no stone unturned to draw
traffic. The company for the first time plans to open its stores
at 8 p.m. on Thanksgiving evening.
The move is a strategic attempt by the department store retailer
to take a more competitive stance against its brick-mortar and
Other retailers that count upon a similar game plan include
Wal-Mart Stores Inc.
The Gap, Inc.
). Retailers need to be 'hawk-eyed' this holiday season to make
the most of it. They will need to capitalize on every opportunity
as and when they arise, and try to attract cautious,
budget-constrained consumers to the stores as the season may be a
What further makes this holiday season challenging for retailers
is the time frame, as 2013 presents only 25 days between Black
Friday and Christmas as against 31 days last year. Moreover,
retailers, which witness more traffic during weekends, will have
only 4 full weekends this time around versus 5 in 2012.
Earlier, Macy's, holding a Zacks Rank #4 (Sell), stated that it
will deploy approximately 83,000 seasonal staff members for its
Macy's and Bloomingdale's outlets, call centers, distribution
centers and online fulfillment centers, portraying a 3.8%
increase from the last year, when the retailer appointed about
Retailers seem skeptical about the holiday shopping period as the
economic improvement is short of expectations, which could have
led to higher consumer spending. Consequently, retailers are busy
bracing themselves for a tough shopping season.