Insight Report 8 minutes PremiumMacy’s Updates Polaris Strategy 2021: Retailer To Expand Backstage in 2021 and Grow Digital to $10 Billion by 2023 Coresight Research February 26, 2021 What's InsideOn February 23, 2021, Macy’s reported its fourth-quarter and full-year financial results for fiscal 2020. The company also provided an update of its Polaris Strategy, which is designed to accelerate top-line growth and increase profitability across channels. We present highlights in this report. Click here to read more Coresight Research coverage of Macy’s. CONTENTS What’s the Story? Financial Results: Fourth-Quarter and Full-Year 2020 Increase in Digital Increased Delivery Costs, Impacting Gross Margin Attracting a Younger Demographic in 4Q20; Around 4 Million New Digital Customers Stores Set To Comprise 65% of Sales in Fiscal 2021 Polaris Strategy Update Digital Sales To Grow to $10 Billion in Three Years; Macy’s To Invest 2.5X Higher Capital Spend in 2021 Plans To Add 35 Backstage Stores in 2021 and Proceed with 125 Store Closures Focus on Supply Chain and Fulfillment Services To Further Increase Profitability Testing Off-Mall Locations and Scaling Store Fulfillment This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: US Apparel and Footwear Private Label: Consumer Attitudes and Inflation Present OpportunitiesWeekly US and UK Store Openings and Closures Tracker 2023, Week 26: Walgreens Boots Alliance Drives Closures on Both Sides of the Atlantic10 Things To Know About Temu, the E-Commerce Marketplace Sweeping the US MarketThe Future of AI in Retail: What Technology Could Make Possible by 2030
