Retail Sentiment Would Boost Confidence Of Macy’s, Inc. (NYSE:M) And Others
Macy’s, Inc. (NYSE:M), the $19 billion market capped departmental store based out of Ohio was one of the retailers which had come under close scrutiny among the investment community last year and was under pressure to move things along and show signs of a fight back to hold on to its customer base and beat back competition.
Consumer Index Buoys Retail Sentiment
A market survey report which tried to capture the sentiments of shoppers and the overall U.S economy during the holiday season would have gladdened the hearts of executives at Macy’s, Inc. (NYSE:M) and other retailing firms. The report put together by the conference board routinely maintains a customer sentiment index. For the month of December, the index has indicated a clear upward push in customer sentiment for the month of December. This was being directly linked to the hiring uptake in the past quarter and analysts have gone on record to predict an increase in spending in 2014.
2014, The Year When Retail Will Move Towards Growth
This buoyancy in the index which peaked to 78 percent in November has been the highest since 2007 for the year ending period and this has made retailers like Macy’s, Inc. (NYSE:M), eBay Inc(NASDAQ:EBAY),Wal-Mart Stores, Inc. (NYSE:WMT), Dollar General Corp. (NYSE:DG),Target Corporation (NYSE:TGT) and Best Buy Co., Inc. (NYSE:BBY) start to look at 2014 as a period when they will be able to look at double digit growth as compared to flat to negative growth in their sector during since 2008 financial crisis.
Macy’s, Inc. To Push To Attract More Teenage Patrons
Macy’s, Inc. (NYSE:M) which recorded net sales of $28 billion in the trailing 12 months period would be paying close attention to the big increase in the housing projects getting commissioned and the attendant increase in household spending power to redesign their inventory and tweak their go to market strategy to attract the newly emerging teenage crowd. Past year data indicates that growing buying power of this emergent age group 14 years to 20 years has contributed to substantive revenue for the retailer.