$Macy's(M)$ is holding up strong with a 39.2% gross margin, and even boosted merchandise margin by 40 bps thanks to tighter inventory and fewer markdowns. As part of its “Bold New Chapter” strategy, Macy’s is expanding its revamped store format to 125 locations. Meanwhile, Bloomingdale’s and Bluemercury are keeping the luxury momentum going, and their media network pulled in 8% revenue growth too. Feels like the classic department store is slowly but surely finding its new groove.
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