Macys.com heading for $1 billion in sales
By Staff -- Home Textiles Today, 4/27/2007 12:46:00 PM
Cincinnati– The Federated Department Stores direct division – dominated by macys.com – is expected to ring up $1 billion in sales in 2008, a 61% jump in a two-year period, coming above the $620 million it generated last year.
In the coming years, Macy’s internet operation “should be the fasting growing part of Federated, both in percentage terms and close to No. 1 in absolute dollars,” macys.com chairman Peter Sachse told analysts during the retailer’s investor conference earlier this week.
The site averages 600,000 visitors a day, Sachse said. Consumers who shop both Macy’s stores and macys.com spend 20% more in-store than the average in-store customer and 60% more on the site than the average macy.com customer, he added.
In home textiles, the site churns an impressive amount of business for some of Macy’s biggest labels. Macys.com accounts of 33% of the retailer’s Calvin Klein home textiles sales as well as 15% of both Ralph Lauren and Hotel sales.
Macys.com home offerings will broaden this year with the debut of furniture in July, followed by the introduction of the Martha Stewart Collection in the fall.
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