Over the past week, the 24/7 Wall St./The Channel Checkers poll surveyed various Macy (M) stores to track sales and business levels in July. We asked the following questions:
1. How is business this year?
2. Do you have any excess inventory?
3. Do you think the economy is affecting business?
4. What is the most popular clothing brand?
• 46% reported business levels as “above average, 32% reported business levels as “average”, 18% reported business as “below average”, and 4% reported business as “very strong.”
• 57% of respondents said that there is excess inventory at Macy’s while 43% said there is no excess inventory.
• 57% of respondents do believe that the economic crisis is hurting business at Macy’s. 25% do not believe that the economic crisis is hurting business while 18% said that they were not sure.
• INC was the top clothing brand according to 14% of respondents, 14% also saw Calvin Klein as the top brand while 11% saw Jones New York and BCBGMAXAZRIA as the top selling woman’s brand.
Conclusion of Channel Check: Business levels this year look good as a net of 32% more believe business is above average (Above Average responses – below average responses). Macy’s store workers seem to believe that the economy continues to impact business. Inventory looks to be up, but compared to our history of channel data this number is not a strong red flag for Macy’s yet.
For access to the underlying survey or for more information, please contact Jason Katz at 415.867.0959 or [email protected]
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