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Macy's Partners with dunnhumbyUSA to Develop, Apply Customer Insights to Grow Same-Store Sales
CINCINNATI-(Business Wire)-August 13, 2008 - Macy's, Inc. (NYSE:M) and dunnhumbyUSA, a leading consumer insight firm, today announced that Macy's is partnering with dunnhumbyUSA under a significant multi-year agreement. Macy's will be dunnhumbyUSA's exclusive client in the department store category.
Under the agreement, dunnhumby will analyze Macy's customer sales data, develop customer segmentation models, and work with the Macy's organization to apply the learnings, in alignment with the company's existing customer-centric business initiatives, to accelerate future sales growth.
(Editor's Note: Macy's, Inc. this morning also issued a separate news release announcing its second quarter 2008 sales and earnings.)
"For Macy's to continue to build a sustainable competitive advantage, we need to fully understand our customers and mold our offering to satisfy each customer's specific needs," said Terry J. Lundgren, Macy's, Inc. chairman, president and chief executive officer. "The insights culled from our work with dunnhumby will support our new My Macy's localization initiative. Our intention is to leverage knowledge of customer segments to drive same-store sales, profitability, customer loyalty and, ultimately, shareholder value. Leading retailers worldwide have benefited from the insights developed through dunnhumby's expertise, and we believe that experience will be invaluable to Macy's."
"We are delighted to be partnering with Macy's, an iconic American brand with unprecedented marketing and merchandising prowess," said Simon Hay, CEO, dunnhumbyUSA. "We are passionate about helping Macy's win the lifetime loyalty of their customers. We understand the complexities that face the department store shoppers today and seek to apply our data-driven insights and keen understanding of shopper behavior patterns to create more meaningful connections between Macy's and their customers."
dunnhumby will serve Macy's, Inc. from its U.S. headquarters office in Cincinnati.
About dunnhumbyUSA
dunnhumbyUSA combines proven natural abilities with big ideas to find clues and patterns as to what customers are buying and why. We turn these insights into actionable strategies that create dramatic growth and sustainable loyalty, ultimately improving brand value and the customer experience. dunnhumbyUSA is a joint venture between The Kroger Company and London-based dunnhumby. Employing more than 850 people in Europe, Asia and the Americas, dunnhumby serves a prestigious list of companies, including Kroger, Tesco, Procter & Gamble, PepsiCo, and The Home Depot.
About Macy's, Inc.
Macy's, Inc., with corporate offices in Cincinnati and New York, is one of the nation's premier retailers, with fiscal 2007 sales of $26.3 billion. The company operates more than 850 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's. The company also operates macys.com, bloomingdales.com and Bloomingdale's By Mail. Prior to June 1, 2007, Macy's, Inc. was known as Federated Department Stores, Inc.
All statements in this press release that are not statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of Macy's management and are subject to significant risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including conditions to, or changes in the timing of, proposed transactions, prevailing interest rates, competitive pressures from specialty stores, general merchandise stores, manufacturers' outlets, off-price and discount stores, new and established forms of home shopping (including the Internet, mail-order catalogs and television) and general consumer spending levels, including the impact of the availability and level of consumer debt, the effect of weather and other factors identified in documents filed by the company with the Securities and Exchange Commission.
(NOTE: Additional information on Macy's, Inc., including past news releases, is available at www.macysinc.com/pressroom.)
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