Sales in the third quarter of 2015 totaled $5.874 billion, a decrease of 5.2 percent, compared with sales of $6.195 billion in the same period last year. Comparable sales on an owned plus licensed basis were down by 3.6 percent in the third quarter. On an owned basis, third quarter comparable sales declined by 3.9 percent. For the year to date, Macy’s, Inc. sales totaled $18.210 billion, down 2.8 percent from total sales of $18.741 billion in the first three quarters of 2014. Comparable sales on an owned plus licensed basis were down by 1.7 percent year-to-date in 2015. On an owned basis, year-to-date comparable sales declined by 2.2 percent. Macy’s, Inc.’s third quarter 2015 operating income was $369 million or 6.3 percent of sales, excluding asset impairment charges of $111 million primarily related to previously-announced plans to close 35 to 40 stores in early 2016. This compares with operating income of $422 million or 6.8 percent of sales for the same period last year. Macy’s, Inc.’s operating income including the asset impairment charges totaled $258 million or 4.4 percent of sales for the quarter ended Oct. 31, 2015.
F+W Media has established a new standalone book group, naming Heidi Sachner as head of books. Joining Sachner in the group are F+W fine arts editor Pam Wissman who has been promoted to executive director, heading up the editorial and design teams across all communities, and Greg Nock who has been promoted to production director.
Under the new structure, all book publishing in F+W’s various communities, such as crafts and art instruction, will be overseen by Sachner. Greg Osberg, who took over as CEO of F+W in January, said the new structure, which also affects the company’s magazine and digital formats, is designed to bring more expertise to each product line.
While each community will have employees dedicated to working on books, Sachner and her team will have a “horizontal view” of all the books being published by the different verticals. She will also approve all new projects.
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