Macy’s Begins New Plan to Build Sales

Department-store retailer Macy’s (NYSE:M) unveiled a three-year plan on Wednesday in an effort to boost business from the younger generation. The company is aiming to increase its product offerings and improve the shopping experience in its mstylelab merchandise segment and Impluse segment. Both brands are catered toward the 13-30 demographic.To improve the shopping experience, the department store is planning in-store improvements as well as a new marketing strategy. The company estimates the younger generation spends about $65 billion annually for the type of goods it sells. Macy’s (NYSE:M) has potential upside of 6.8% based on a current price of $39.7 and an average consensus analyst price target of $42.42.

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