Attention Macy's shoppers, the downtown SF Macy's was evacuated late Saturday afternoon after reports of an "explosive device,' though a bomb squad did not find any evidence of explosives, and the store reopened for business Sunday. If you were in Union Square late Saturday afternoon of this weekend, you may have noticed a strange scene and some heavy law enforcement presence around the O'Farrell Street Macy's store.
CEO Tony Spring told investors on Macy's earnings call that higher-income households are driving part of the recovery. Spring said that more than 50% of Macy's customers come from households earning over $100,000. "While we have exposure to lower income levels, it's not nearly what it was," he said, adding that Macy's also reaches more affluent consumers through its Bloomingdale's brand. "I think as you go by income level, you certainly see a healthier performance in the higher tiers of income."
"Macy's Media Network is an important first domino to fall for Amazon Retail Ad Service," Lipsman told Retail Brew in an email, "but it's still an open question whether Amazon can secure other large retailers and build momentum."