Macy’s, Inc. (NYSE:M)’s Stock Plunged on Lower-than-Expected Holiday Season Kick-off

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Dallas, Texas 12/02/2014 (FINANCIALSTRENDS) – Macy’s, Inc. (NYSE:M)’s stock also joined the industry wide decline in the retail segment. Despite the company revealed great plans to enter 2014 holiday season and its plans to start Cyber Monday early, the stock fell 2.65% on Monday. The stock recently marked a new 52-week high of $65.74 and it is currently trading approximately 28% above its 52-week low.

Macys.com earlier announced to start Cyber Monday deals from Sunday, November 30, and continue them until December 1, 2014. Alongside, heavy discounts on kitchenware, bedding, apparel, jewelry, accessories, cosmetics and more, Macy’s also offered free shipping on all orders valued more than $50.

Cyber Monday Deals

Macy’s, Inc. (NYSE:M) also offered the new e-gift option, allowing consumers to choose and send personal gift from wide range of products on the Macys.com website. The recipient can open the gift online from their email and opt for the color or size of their choice or even exchange before it ships.

Chairman of Macys.com, Jeff Kantor said that the Cyber Monday offered even more great deals to our customers and the flexibility to shop from their devices on their own time. The website also allowed shoppers to add favorites to their shopping list by visiting Macys.com/blackfriday in advance. The company offered up to 50% to 70% of deals on wide product ranges including select comforters, sweaters, mixers and food processors, dresses, luxurious cashmere and more from renowned brands.

Plans for 2015

Macy’s, Inc. (NYSE:M) also tried and tested various initiatives to defend its share as department store retailer and combat the increasing dominance of online retailers. The company also started offering pickup and same-day delivery programs.

The company also attempts to capture more attention from the most commercial Macy’s Thanksgiving Day Parade, whose broadcast drew about 25.2 million viewers last year. NBC partners with the company for this parade and has official broadcast rights.

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