Madonna & Lourdes Are A Home RunMacy's Inc.turned a profit in the third quarter after a loss a year ago, boosted by tailoring merchandise to local markets and higher spending from wealthier customers at its Bloomingdale's chain.
Macy's has benefited from its localization plan, which puts decisions on what merchandise to stock closer to customers. Its fashion exclusives have also helped bring in new shoppers. The company has said that its moderately priced Material Girl, a trendy teen clothing collection created by pop star Madonna and her 13-year-old daughter Lourdes, has been a home run.
Macy's said Wednesday that it earned $10 million, or 2 cents per share, for the period ended Oct. 30. That compares with a loss of $35 million, or 8 cents per share, a year ago.
source: latimes
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