Macy's, Inc. (M - Free Report) has been taking several strategic initiatives to adapt to the ongoing changes in the industry. In this regard, the company plans to roll out Mobile Checkout option in all its full-line stores by the end of 2018.
The company has added a new feature to its mobile app called Mobile Checkout, which allows customers to scan bar codes of items and pay via smartphones. After the completion of the transaction customers will have to head toward Mobile Checkout counters, wherein an associate will check the purchased items and remove the security tags. Through shoppers loyalty accounts, appropriate rewards points as well as discounts will be applicable.
Additionally, Macy’s is in the process of launching an advanced reality shopping experience to sell furniture. Through this platform customers are likely to virtually place the furniture in their room to see how it fits before the purchase. Macy’s CEO Jeff Gennette stated that “Like a lot of brands, we've experimented with VR in a number of areas and we're excited to have found a practical application that has proven to drive sales.”
Other Strategic Initiatives
We believe Macy’s sustained focus on price optimization, inventory management, merchandise planning and private label offering are the primary catalysts, facilitating in meeting customer-oriented demand and improving in-store shopping experience. In fact, in an attempt to increase sales, profitability and cash flows, the company has been taking steps such as integration of operations as well as developing e-commerce business and online order fulfillment centers.
Moreover, this Zacks Rank #1 (Strong Buy) company had introduced various innovative services including Apple Pay, Same Day Delivery, Enhanced Shopping Apps, Innovation in Stores Selling Technology, Macy’s Image Search and Macy’s Wallet/Bloomingdale’s Wallet. The company’s “Buy Online Pickup in Store” initiative is also gaining traction. Consequently, the stock has surged 36.9% in the past six months, slightly outperforming the industry’s growth of 35.3%.
Other Stocks to Consider
Dillard's, Inc. (DDS - Free Report) delivered a positive earnings surprise in the trailing two quarters. The company sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Kohl's Corporation (KSS - Free Report) pulled off an average positive earnings surprise of 12% in the trailing four quarters. The company has a long-term earnings growth rate of 6.7% and a Zacks Rank #2 (Buy).
Nordstrom, Inc. (JWN - Free Report) has delivered a positive earnings surprise in the trailing three out of four quarters. The company carries a Zacks Rank of 2.
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