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70% Americans shop at Macy’s

By FashionUnited

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Seven out of 10 Americans visit a Macy's store or its website at least once a year,

according to the exclusive department stores chain.

Chief Marketing Officer Peter Sachse revealed the loyalty base of the US retailer, in a session at the National Retail Federation's Big Show on Jan 16. “We saw we don't need more customers — we need the customers we have to spend more time with us,” Sachse said. “Therein lies the whole idea of loyalty.”

According to Sachse, the 70% of all Americans visits their either online or offline store, even if they just did it once per year. Macy's operates 850 department stores in 45 states, D.C., Puerto Rico and Guam.

Macy's recently updated its quarterly earnings from USD1.55 to USD1.60 per share, with full-year earnings between $2.73 and $2.78 per share. Macy's shares closed a good year last december, after climbing over  45%.

On 10th January 2012, both Sachse and Chief Merchandising Officer Jeffrey Gennette, sold a total of 46,734 shares for $1.6 million, reported Seeking Alpha. Of those, Mr. Sachse's 41,000 shares that were sold were acquired by exercising options. In comparison, insiders sold 0.4 million shares in the past three months.

Macy's, with corporate offices in New York and Cincinnati, said that revenue at stores open at least a year climbed 6.2 percent in December. Analysts surveyed by Thomson Reuters expected a 5 percent rise.
Macy's