After reporting a disappointing decline in second-quarter earnings and sales last week, Macy's (NYSE: M) is pulling out the big guns. Donald Trump and Martha Stewart are just two among a coterie of celebrities being employed in the department-store company's $100 million advertising blitz. New television spots for Macy's - one of which will debut on September's Emmy-Award broadcast - will also feature R&B singer Usher, Tim Gunn from Project Runway, chef Emeril Lagasse, and hip-hop mogul Sean
Also on the roster as a celebrity endorser for the Cincinnati-based retailer is Jessica Simpson. Seems like a bit of a slap in the face to hometown boy (and erstwhile Simpson paramour) Nick Lachey.
Stewart, figurehead of Martha Stewart Living Omnimedia (NYSE: MSO), also is working with Macy's on an exclusive line of Stewart-branded home products, which will launch this fall only in Macy's stores.
Beth Gaston Moon is an analyst at Schaeffer's Investment Research.
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Reader Comments (Page 1 of 1)
8-26-2007 @ 5:12PM
Georgia Roberts said...
Macy's
Macy's problem is with it's management, and buyers.
The stores have undesirable lines of clothing, in
poor taste. When a woman can walk through Macy's
and not find anything in any of the departments of
clothing that she wants, then leave the store empty
handed. There is a big problem.
I was in the store this week and found myself in
the Liz Clauborne section (it look like k-marts).
8-26-2007 @ 7:01PM
linda said...
Macys all Macys have gotten so poor in their standards.. The help has nothing to offer the people in the store making purchases Nor are they polite... There is Lack of help and those that are there are few and far inbetween... The stores are a Mess.. Its almost like you are in a K-mart or Wal-mart.. Target is more together than Macys.. Its very sad that this has happened to a store world wide and its only getting worse..
I myself go in and I leave empty handed.. Who wants to shop and stand there and sort thru such messes. Table after table its one mess after another...
Honest, when I'm at the Mall these days I skip right passed Macys... I rather not even go inside... Its very sad... I don't think a Martha Stwert or a Trump will help this awful mess that has been happening for a very long time...
linda
i have never commented but this one I had to ....
8-27-2007 @ 9:26AM
wd schwartz said...
Federated/Macy's can spend a fortune on ads, but they can't seem to understand that their sales declined because they sacrificed all of the name recognition and customer loyalty their stores had, by changing all of the stores to the Macy's brand. Boston people identified with Filene's, Chicagoans with Marshall Field, and other towns related to names like Rich's, Burdines, Lazarus, etc. It may be easier to print ads across the country with Macy's name on the header, but alot of consumers liked their local store names. Macy's could have followed Belk's lead and attached the Macy's name to Filene Macy's or Marshall Field Macy's, but they have chosen the wrong path and now they are reaping the results.