Retails giant Macy's revives its 'Summer Black Friday' discount offer
Macy's Revives "Black Friday in July" Sale Amidst Q1 Sales Decline
Macy's has reintroduced its "Black Friday in July" sales event, offering discounts on a variety of items, including apparel, accessories, home goods, and holiday-inspired deals as part of its "Christmas in July" promotion. The sales event, which ran from July 7 to July 11, comes after a decline in Q1 net sales and comparable store sales (comps) for the retail giant.
According to GlobalData managing director Neil Saunders, the "Black Friday in July" sale is Macy's attempt at driving sales and volume. The move is a strategic response to the decline in Q1, where Macy's net sales fell about 5% year over year to $4.6 billion, and comps declined 1.2%.
However, not all retailers followed suit. Target and Walmart did not explicitly hold a "Black Friday in July" event this year. Instead, they focused on back-to-school promotions, with Target running a separate sales event called "Back-to-School-idays" from Sunday through Aug. 2, and Walmart offering significant deals in late July, including discounts on kitchen sets, vacuums, and other household goods.
Target's back-to-school sales event, which coincides with Macy's "Black Friday in July," features discounts on school-related items. Walmart, on the other hand, is planning traditional Black Friday sales in November and a "Deals for Days" event in early October.
Meanwhile, online retailer Wayfair launched a five-day mega summer sales event on Thursday, offering up to 80% off on home products such as mattresses, linens, and dinnerware sets. The event also includes deals on clothing for men, women, and kids, accessories, jewelry, beauty products, and home goods.
Shoppers can access these deals in Macy's stores, online, or through the Macy's app. Macy's "Black Friday in July" sales event includes discounts on back-to-school styles for kids and the family. The retailer is also celebrating "Christmas in July" from July 16, featuring holiday-inspired deals, exclusive offers, and curated selections.
It seems that some shoppers have brought forward spending due to fear of tariffs pushing up prices, with Target and Walmart holding sales earlier this month. Despite the competitive landscape, Macy's is hoping that its "Black Friday in July" sale will help boost sales and attract customers.
In a positive note, Macy's credit card revenue increased 31% to $154 million in Q1, indicating that customers are still willing to spend, albeit cautiously, on Macy's offerings.
[1] Source: CNBC [2] Source: Business Insider [3] Source: Yahoo Finance [4] Source: USA Today
- Amidst the Q1 sales decline, Macy's resuscitated its "Black Friday in July" sale, incorporating discounts on various products like apparel, home goods, and holiday-inspired deals. (follows the text about Macy's introducing a "Black Friday in July" sale)
- Meanwhile, instead of hosting a "Black Friday in July" event, Target focused on back-to-school promotions, while Walmart offered significant deals later in July, including home and garden items. (follows the text about Target and Walmart not holding a "Black Friday in July" event this year)
- During the "Black Friday in July" event, Macy's provided deals not only on home-and-garden items but also on clothing, accessories, and lifestyle products for the entire family. (follows the text about what items are included in Macy's "Black Friday in July" sale)
