Macy's Q2 2017 earnings were released before opening bell this morning.
Department store operators have been struggling with declining mall traffic and tough online competition and have responded by cutting costs through shuttering stores, selling or leasing their real estate and reducing inventory.
Gennette said Macy's is trying to stabilize its retail locations with a combination of exclusive merchandise, improved technology and in-store "enhancements meant to drive traffic and sales". It has also started an off-price brand, and it plans to launch a loyalty program in the fall that it hopes will bring more shoppers through its doors. Same store sales fell 2.8% on an owned basis and 2.5% on an owned plus licensed basis.
"We saw a notable contribution from the full execution of our new women's shoe and jewelry models and the continued successful testing of Backstage in store", Gennette said.
Isolation of menstruating women is now an offence in Nepal
They are also barred from touching food, religious icons, cattle and men. As a result the women are forced to spend the night in sheds outside.
Macy's reported a $116 million profit on $5.6 billion in revenue for the second quarter, which ended July 29. That's up from $11 million, or 3 cents per share, in the same period a year before. Macy's earnings per share of 48 cents - excluding extraordinary charges - was 2 cents better than analyst expectations.
Revenue fell 5 percent to $5.55 billion, beating expectations of $5.5 billion, according to Zacks.
But Macy's expects full-year earnings in the range of $2.90 to $3.15 per share, below the $3.27 per share that analysts expected, according to FactSet.
Shares of Macy's Inc., which are down 36 percent since the beginning of the year, rose 1 percent to $23.22 before the stock market opened Thursday.
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