We have blogged in the past about Macy's and its efforts to connect in-store and online inventory availability -- one of the keys to delivering omnichannel customer experiences -- and a new article in Forbes today is telling us those efforts are paying off.
Macy's has mastered the art of e-commerce inventory optimization.Ken Murphy, Senior VP, Standard Life Investments
"Macy’s reported $6.3 billion in first quarter revenue, down 1.7% from the same period a year ago. Same store sales were also down 1.6% despite expectations for flat to slightly up sales," wrote Forbes' Samantha Sharf.
"Nevertheless the company reported growing net income which at $224 million beat Wall Street analysts’ consensus estimate by $4.5 million. At 60 cents earnings per share were up 5 cents and in line with consensus."
Murphy says Macy's is a cut above fellow e-commerce inventory leaders Nordstorm and Urban Outfitters.
Sharf quoted Ken Murphy, senior VP at Standard Life Investments, who says Macy's is "aging gracefully." He adds that the 85-year-old department store chain has not only created a pleasant digital experience for consumers but has also "mastered the art of e-commerce inventory optimization."
Murphy says finding the balance between minimizing shipping costs while still having the right product near the right consumer is a challenge, one that Nordstrom, Urban Outfitters are meeting -- but not as well as Macy's, he notes.